Pioneer promotes Yanuna project in Playa Macao, secures The Ritz Carlton Hotel and The Luxury Collection landing

Punta Cana, DR.- Pioneer Sociedad Administradora de Fondos, SA announced the arrival of The Ritz-Carlton Hotel Company, LLC and The Luxury Collection to the country by signing the agreement that establishes its installation in Yanuna, a new luxury tourist destination that the fund manager will develop in Playa Macao, Eastern Dominican Republic.

The agreement signing ceremony was attended by Bojan Kumer, Regional VP of Development for Marriott International for Latin America and the Caribbean, and Alex Fiz, Area VP for the Caribbean and Director of All-Inclusive at Marriott International, representing the hotel multinational, which has the most powerful portfolio in the industry worldwide. Pioneer was represented by its Executive President, Hector Garrido and its Executive VP, Yamil Isaias; Similarly, the Ministry of Tourism of the Dominican Republic, Mr. David Collado, participated; Eduardo Grullón, President of AFP Popular and Javier Tejada, President of UC – United Capital Sitio de Bolsa, SA

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“By formalizing the registration of Dominican nationality for The Ritz-Carlton and The Luxury Collection brands, we are consolidating their presence in what we believe will be the highest value tourist offer in our country: Yanuna.” The decision to establish itself in Yanuna reflects the confidence of these internationally recognized brands in the tourist potential of the area as a world-class destination,” said Yamil Isaias.

The strategic location of Yanuna and the global reputation of The Ritz-Carlton and The Luxury Collection will contribute to the country's tourist attraction. It is expected that the transaction, which in its 1st. This stage contemplates an investment of more than US$250 million to generate employment opportunities and stimulate economic growth in the region, attracting more high-end tourists and creating new employment opportunities that promote the development and increase the competitiveness of our country.

“We are extremely excited about the signing of this project that redefines the luxury offering for All-Inclusive in the region, elevating this segment under the luxury leadership of The Ritz-Carlton and The Luxury Collection brands. “The Ritz-Carlton marks an important milestone for us as it will be the first The Ritz-Carlton All-Inclusive hotel in our region.” Bojan Kumer commented.

“With this project we reiterate our commitment to continue positioning the DR as a luxury destination and reinforces our presence of All-Inclusive by Marriott Bonvoy hotels,” added the senior Marriott executive.

According to reports, Yanuna seeks to develop more than 4,200 hotel rooms and 1,600 residential rooms, with a total investment of US$2,375 million, under an orderly operation scheme, which includes these luxury brands operating within a community village that includes restaurants, bars and amphitheaters.

Pioneer is recognized as the 1st. SAFI to operate in the DR. It stands out for its investments in the tourism sector, which exceed US$450 million.

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