Madrid, Spain.- At the FITUR 2025 International Tourism Fair, Banco Popular Dominicano announced a US$71 million investment in the Advanced Oportunidades II Closed-end Investment Fund, managed by Advanced Asset Management (AAM). The funds will be used to purchase and renovate the Playa Hotels & Resort, which will operate under the Wyndham Alltra brand. The hotel, located in Uvero Alto, La Altagracia, will feature 620 rooms, common areas, and a new 7,500 m² water park.
The project, which begins construction in February 2025, is expected to create over 1,200 direct and indirect jobs, benefiting local communities and suppliers. The development will also adhere to sustainability standards, enhancing the region’s hotel competitiveness. The hotel is projected to host 365,000 guests annually.
Banco Popular’s Senior Executive Vice President, René Grullón Finet, emphasized the bank’s commitment to strengthening the Dominican Republic’s tourism sector by diversifying its offerings. AAM CEO Felipe Amador and Chairman Manuel Diez also highlighted the project’s role in boosting the country’s competitiveness and expanding its tourism infrastructure.
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