News

Grupo Piñero’s Big Growth

By: Caribbean Journal Staff - January 24, 2018

By Dana Niland
CJ Contributor

Grupo Piñero, the parent company of Bahia Principe, had a very strong 2017, according to the company’s latest data report.

The group reported an eight percent sales increase compared to 2016, marking the sixth year of growth for the brand and a gross operating profit of $250 million.

The news comes a little over a month after Bahia Principe unveiled a major reorganization of its resort portfolio into four brand categories.

“In 2018 we embark on a new brand architecture to simplify the way we organize ourselves and strengthen the operations of each of our businesses,” said CEO Encarna Piñero. This will be a year of continuity and consolidation of our leading position in the holiday segment.”

Bahia Principe, which accounts for 72 percent of the family-owned business, achieved 82 percent occupancy for the year at 24 properties in the Dominican Republic, Mexico, Jamaica and Spain, with more than 13,000 rooms in total.

Piñero attributed the growth to the “enthusiastic reaction by our customers to the latest addition to our brand, Luxury Bahia Principe Fantasia, in Playa Bavaro, Dominican Republic, and the encouraging activity in our main outgoing markets.”

Soltour, the brand’s tour operating unit which celebrated 40 years in the business in 2017, saw an increase in sales of 10.6 percent when compared to the previous year.

Also in 2017, Coming2, Grupo Piñero’s tourist reception and at-destination services unit, became the only destination management company to operate charter flights to Jamaica from Spain and Portugal.

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