La Quinta by Wyndham Hotels & Resorts is Committed to Introducing the Brand in the Dominican Republic with Eight New Hotels
Wyndham Hotels & Resorts, the largest hotel franchise company in the world, shows great progress as it continues to expand its hotel portfolio, reaching the Caribbean for the first time through the Dominican development company "PROFUSION GROUP".
Santo Domingo, Dominican Republic - Wyndham Hotels & Resorts, the largest hotel franchise company in the world, shows great progress as it continues to expand its hotel portfolio, reaching the Caribbean for the first time through the Dominican development company "PROFUSION GROUP".
Profusion Group is a private equity firm dedicated to development, investment, asset management in the real estate and hotel sector, and limited service and luxury. The company's target markets are concentrated in the Caribbean and northern Latin America (LACAR). Through a team of highly qualified professionals, the company seeks to generate value in each of its activities to maximize returns for its investors.
Profusion Group, along with Wyndham Hotels & Resorts, brings "La Quinta By Wyndham", a product created specifically for Dominican tourists, the 80MM members of Wyndham Hotel Group, and users who enjoy the products and services of this global brand.
The approximate capital investment being made by Profusion Group has committed is US $100,000,000 for the development of a portfolio comprised of eight hotel projects throughout the Dominican Republic, through an SPV administered by Universal, the leading Dominican National Trust Company accredited nationwide. Initially, the hotels will be located in four zones: Punta Cana, La Romana, Boca Chica and Santo. Domingo Puerto Caucedo.
"The growing need for domestic tourism options for Dominicans, the island's expanding middle class, and the unattended national market-led Profusion Group to enter this agreement with Wyndham Hotels & Resorts. My personal admiration for Dominicans and their admirable work ethic, the opportunity to contribute to the economy through domestic tourism, the creation of the thousand-plus jobs that this project will provide, and the country's stunning sun-drenched beaches and thriving gastronomy scene were key factors of inspiration for me," said Mr. Edward De Valle, CEO of Profusion Group.
This will be one of many agreements executed outside of the United States for Wyndham Hotels & Resorts since it acquired the brand and described strategic plans for expanding La Quinta by Wyndham in key global markets.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of nearly 885,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers approximately 110 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
About Wyndham Rewards
Part of Wyndham Hotels & Resorts (NYSE: WH), the world's largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by readers of USA TODAY. Members—approximately 120 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous. Join for free at WyndhamRewards.com.