Santo Domingo, Dominican Republic, July 22, 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 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.