Jewel resort now in Dominican Republic
Published:Friday | December 30, 2022 | 12:45 AM
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The Jewel Resorts brand of hotels that started operations in Jamaica has entered the Dominican Republic under the wings of its current Mexican owner. Four Jewel hotels are now in operation, two in Jamaica and two in Dom Rep. “The addition of Jewel...
The Jewel Resorts brand of hotels that started operations in Jamaica has entered the Dominican Republic under the wings of its current Mexican owner.
Four Jewel hotels are now in operation, two in Jamaica and two in Dom Rep.
“The addition of Jewel Punta Cana and Jewel Palm Beach to Playa’s portfolio is a natural expansion of the Jewel brand, given its success in Jamaica and its appeal to a mid-level luxury clientèle,” Dean Sullivan, senior vice-president of sales and marketing at Playa Hotels & Resorts, said in a release from the hotel group. “These two resorts are a welcomed addition for guests looking for an exceptional, yet affordable vacation in the Dominican Republic.”
Playa Hotels operates various hotel brands in Jamaica, Dom Rep and Mexico. Its Jamaican properties include Hyatt Ziva Rose Hall, Hyatt Zilara Rose Hall, Hilton Rose Hall, Jewel Paradise Cove and Jewel Grande.
Playa previously sold two other Jewel hotels in Jamaica for US$60 million in 2020 at the height of the pandemic, when it was in need of cash.
The Jewel Resorts brand targets visitors at the “midscale price point” who want an all-inclusive stay.
Playa Resorts generated revenue of US$623.6 million over nine months to September 2022, up 80 per cent year-on-year.
This growth, which arose from the further reopening of travel, allowed the company to spin from a net loss of US$90 million to profit of US$71 million.
The resorts in Jamaica generated US$43.8 million ($6.6 billion) in revenue in the September quarter, up 48 per cent; and US$131.8 million over nine months, January to September, doubling the outturn of US$65.4 million recorded the previous year. It would have been higher but for lockdowns earlier in the year, the company said.