Spanish luxury hotel group Bahia Principe Hotels & Resorts says it will invest in various verticals of its business as part of its long-term investment strategy.

Bahia Principe Hotels & Resorts says it has earmarked an investment of USD 100 million in 2023 as part of its ongoing five-year investment strategy that allocates fresh investments to all of its business verticals.

In a press statement, Bahia Principe, the Spanish tourism company that owns the hotel brand, Grupo Pinero, says that while USD 70 million would be awarded to its hotel division, USD 16 million will go to the Bahia Principe Residences and Golf division and USD 6 million will be handed to the Travel and Mobility divisions.

As part of the investment strategy, the company is currently conducting several renovation and refurbishments in its properties. The largest refurbishment underway is the Bahia Principe Luxury Esmeralda Hotel, a USD 32 million investment, which is scheduled to reopen in December 2023. Four other properties will continue their USD 43 million renovation developments, including recreation areas and new gastronomic concepts.

The statement adds that as part of Grupo Pinero’s commitment to sustainability, the company will invest more than USD 4 million under the Natural Capital strategic axis. An additional USD 2.5 million will be awarded to the Energy and Climate axis, for energy management and cost reduction in resorts.

The company adds that it will also invest over USD 5 million in digital transformation projects to improve customer experience and back-office efficiency.

The money used by the Residential and Golf Division is mainly to refurbish and improve services and create walkways to enjoy all the benefits in the beach club overseeing the Caribbean Sea.

The Travel and Mobility Division will use its money to renew and expand the fleet of Solbus vehicles in the Dominican Republic and open new offices in Cancun, Playa del Carmen and Puerto Plata, doubling the workforce in Mexico, says the statement.