Santo Domingo, September 18, 2024 – We are pleased to announce our participation in a major transaction that drives the growth of the Dominican Republic’s tourism industry. We advised Banco BHD on the financing of US$78.8 million granted to the Alma Iglesias family for the acquisition, remodeling, and rebranding of the Jewel Palm Beach Hotel, located in Cabeza de Toro, La Altagracia province.
This landmark project will enable the reopening of the hotel under the renowned Hyatt Vivid Palm Beach brand, a venture poised to not only revitalize the area’s tourism offerings but also positively impact the region’s and the country’s economic growth.
Scope of Our Advisory Services
Our involvement was comprehensive and strategic, covering all key stages of the process:
- Due Diligence: We assessed and ensured the project’s viability through a thorough analysis of financial and legal aspects.
- Negotiation: We facilitated agreements aligned with the interests of all parties involved.
- Multijurisdictional Legal Coordination: We supervised legal advisors across multiple jurisdictions to ensure consistency and regulatory compliance.
- Financing Closure: We ensured the efficient and successful execution of the final agreement.
This achievement reflects the collaborative efforts of our Financing and Real Estate & Tourism teams, who brought extensive expertise in transactions of this nature within the tourism sector.
Expert Team Behind the Success
The legal team leading this transaction was composed of Marcos Peña, Katherine Rosa, and Jennifer Beauchamps as lead partners.
They were supported by associates Luis Eduardo Jiménez, Farah Melgen, and Ámbar Vásquez, who brought their expertise and dedication to each stage of the process.
A Boost for Dominican Tourism
The hotel’s transformation under the Hyatt Vivid Palm Beach brand reaffirms investor confidence in the Dominican Republic’s potential as a world-class tourist destination. It also contributes to job creation and strengthens the local economy.
This milestone underscores our commitment to providing top-notch legal and financial solutions that foster sustainable development for our clients and the country.
