Dominican Republic Complex Listed for Sale at $95.4 Million

Above: the Riu complex in the Dominican Republic

By the Caribbean Journal staff

A group of RIU hotel properties in the Dominican Republic area of Puerto Plata is being put on the market for $95.4 million.

Miami-based real estate brokerage Fortune International’s FGD Group has the listing on the property, which includes 1,590 rooms across three hotels.

FGD’s Fabian Garcia-Diaz has the listing.

“They have a fantastic location, with exposure to the major highway, and just 20 minutes from Puerto Plata International Airport,” Garcia said. “The property has frontage on the ocean, but, most interestingly, in the back of the resort, there are beautiful hills and mountains — it’s just a really blessed location of low hills, mountains and beach.”

The properties include the Riu Bachata and the Riu Merengue and the Riu Mambo in Puerto Plata. They also feature a casino.

“[Riu] acquired a much larger [Riu Plaza] project in New York, which is demanding an enormous amount of cash to redo,” Garcia said. “So they were downsizing some of their positions in the Caribbean, and they chose to put three hotels in Puerto Plata on the market.”

Spain-based Riu could not be reached for comment.

“Right now, we have had some response and feedback from a few South American chains, a couple of American chains and one major chain from Europe,” Garcia said.

The property will be sold unbranded.

“That’s the beauty of the offering,” he said.