Santo Domingo, Dominican Republic, July 18, 2019, 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 developer company “PROFUSION GROUP”.
Profusion Group, is a private equity firm dedicated to development, investment, asset management in the real estate and hotel sector, 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, thus maximizing returns for its investors.
Profusion Group, along with Wyndham Hotels & Resorts, brings us the brand “La Quinta By Wyndham”, a product created especially for Dominican tourists and also the 80MM members of Wyndham Hotels & Resorts and users who enjoy the products of this important brand.
The approximate capital investment being made by Profusion Group is (US $ 100,000,000) for the development of a portfolio of projects composed of 8 hotels 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 4 zones; Punta Cana, La Romana, Boca Chica and Sto. Domingo Pto. Caucedo.
“The mobile that led us to make this agreement with Wyndham Hotels & Resorts, is the growing need to offer options to Dominicans to do tourism within their own country, the middle class is growing on the island and the national market is unattended. To contribute to the economy, tourism and the more than thousand jobs that this project will provide, my passion and personal admiration for the Dominicans who every day demonstrate with their work and determination to be better, as well as its beaches bathed in sun, exquisite, rich sand, gastronomy, are the main reasons that inspired 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 expaning 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, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 75 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
