SPB advises Grupo Popular on Punta Cana Hotels acquisition
Grupo Popular, the leading financial conglomerate in the Dominican Republic, has finalized an agreement with Meliá to acquire a 25% stake in two of its flagship hotels in Punta Cana: Paradisus Palma Real Golf & Spa and ZEL Punta Cana. The €60 million transaction was carried out through the Fondo Cerrado de Desarrollo de Sociedades Popular, a closed-end fund managed by AFI Popular, Grupo Popular’s investment fund management subsidiary.
Both properties are considered strategic assets, underscoring their significance in the country’s thriving tourism sector.
The legal advisory for the deal was provided by Squire Patton Boggs (SPB). The team was led by Ramón Castilla (pictured), partner in the Real Estate practice, alongside senior associate Laura Gómez and associate Marina Fernández.
This acquisition reinforces Grupo Popular’s commitment to diversifying its investment portfolio and capitalizing on the growth potential of the Dominican Republic’s tourism industry, one of the key drivers of the national economy.
