Wednesday, January 10, 2024
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Marriott International is exploring new opportunities to expand its presence in Dominican Republic.
The promising prospects of Dominican Republic tourism inspire it and focuses on emerging market segments.
Bojan Kumer is the regional vice president of Development for Marriott International in the Caribbean and Latin America.
He has expressed high confidence in the Dominican Republic’s tourism potential, spanning from Santo Domingo to Punta Cana.
Kumer highlighted the Dominican Republic as a destination with considerable growth possibilities, especially in luxury and all-inclusive segments.
The interest sparked by the Cabo Rojo project in Pedernales has led Marriott to actively seek participation opportunities in this promising venture.
Excitement is mounting within Marriott International about its expansion in the region, including a range of upcoming projects.
As of the third quarter of 2023, Marriott boasts 493 properties under 22 different brands across 37 countries and territories in the Caribbean and Latin America.
In the Dominican Republic alone, Marriott operates 14 properties with over 3,700 keys.
The Dominican Republic hosts nine of Marriott’s global portfolio brands, which include over 30 brands globally.
These are AC Hotels by Marriott, Autograph Collection, Courtyard by Marriott, Four Points by Sheraton, JW Marriott Hotels & Resorts, Renaissance Hotels & Resorts, Sheraton Hotels, The Luxury Collection, and Westin Hotels.
Kumer confirmed the Dominican Republic’s status as a key market for Marriott in the region, both in terms of existing properties and future projects.
The country currently has 17 properties in medium to long-term development, adding more than 3,000 keys.
Financially, Marriott’s recent performance in the region is strong, reflecting healthy growth in Revenue Per Available Room (RevPAR).
It is increased by 2.8% over the third quarter of 2022, and occupancy rates growing nearly 3% over the same period.
This positive trend underscores Marriott’s commitment to expanding its footprint in the Dominican Republic’s thriving tourism sector.
