Grupo Piñero earned close to US$1 billion in 2018

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Grupo Piñero, parent company of Bahia Principe –all-inclusive resorts in the Caribbean – reported its 2018 financial results at the International Tourism Fair (FITUR) in Madrid, Spain, including posting an income of US$982 million, surpassing the $900 million mark for the second consecutive year.

Bahia Principe Hotels & Resorts, along with the company’s residential and golf offerings, accounted for 70.1 percent of the family-owned business, reporting an income of more than $643 million. Grupo Piñero invested more than $120 million in this business unit in 2019 in efforts that included opening Bahia Principe’s 25th hotel, Fantasia Bahia Principe Tenerife, completing a renovation of Luxury Bahia Principe Ambar in Punta Cana, and initiatives aimed at improving efficiency and digitally transforming the company.

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“In 2019, our reinvestment policy will focus on further differentiating our product, continuing to improve efficiency and completing a digital transformation of our organization,” said Encarna Piñero, chief executive officer of Grupo Piñero. “To be a sustainable company that efficiently manages its resources, we need economic and technological means, but above all, a motivated team that shares our vision.”

In 2018, sustainability continued to serve as a guiding principle for the company which holds a firm conviction in the importance of making a positive economic, social and environmental impact in the countries in which it operates.