Expert ensures COVID-19 does not weaken advantages of the Dominican tourism sector

Santo Domingo, RD. – The effects of COVID-19 have not weakened the competitiveness of the Dominican tourism industry, nor have they reduced the interest of the local and international financial system and of companies from the United States and Mexico in the Dominican Republic as an investment destination.

The information was offered by Enrique de Marchena Kaluche, past president of Asonahores and the Caribbean Hotel and Tourism Association (CHTA).

He says that the Dominican Republic “has several conditions that should make it the phoenix of this crisis in the region.”

“We have the best and most complete tourist product in the entire Caribbean and Central America, for the offer of sun and beach, for the enormous and varied hotel, gastronomic, sports, cultural and ecological offer, and without a doubt, for its people”, express.

About the investment he said: «I have very good news. Precisely because of how competitive the country’s tourism industry is, with its excellent airport and hotel infrastructure, I can say that the banks and investment funds I work with have full confidence in the success of the industry in the short term. ”

He specified that there are clear signs that financial institutions are supporting the refinancing of hotels to overcome the strong impact of a total stoppage of more than 100 days.

In addition, he said: “I have seen that the major US hotel companies and Mexico are interested in continuing their expansion program in our country, through the franchise model, and this is very positive because most of these hotel projects under the franchise model are of national capital. ”

He stressed that they are new Dominican investors who, finally, have decided to bet on the tourism sector.

In addition, he explained that the real estate sector is already beginning to reactivate.

“I know real estate tourism projects that have closed transactions these days and others that work in closing sales, in the east and in the north of the country,” he said.

Regarding the good news, he highlighted: “It is that I see more national investors betting on the hotel industry, leaning on the franchise model, taking advantage of what this model offers in the quality of management and marketing, with its powerful centers of reservations and capacity for customer loyalty ”.

De Marchena said that it would be a great contribution for Asonahores to hold its investment conference this year, because it is more necessary than ever and using a mixed model: face-to-face, keeping protocols and at the same time virtual, with differentiated rates.

The past president of Asonahores also considered that for the country’s privileged position in the Caribbean, the challenge is to continue “efforts to manage the pandemic and its consequences on health and act considering that the performance of the tourism industry is vital for the prompt recovery of the economy ”.

Additionally, he said that it is necessary to strengthen its “advantageous position of mature democracy, holding presidential elections that are an example of participation and civility, with a result accepted by all.

“And with this, we will reiterate our democratic principles and our respect for the rules of coexistence and law,” he added.

De Marchena said that the Government has handled the health and economic crisis as a result of the pandemic with agility and skill.

“The economic impact is in sight, but we are in a position to reestablish our economy and the careful implementation of health protocols will largely depend on the success we have in returning tourists to the country,” he said.