Encarna Pinero, chief executive officer of Grupo Pinero.
Major milestones throughout the year included opening Grupo Pinero’s 27th hotel, Fantasia Bahia Principe Tenerife, and the reinforcement of the brand’s commitment to digitalization, human resources and consumer experience.
MADRID, SPAIN – Grupo Pinero, parent company of Bahia Principe – a leader in all-inclusive resorts in the Caribbean, reported its 2018 financial results at the International Tourism Fair (FITUR) in Madrid, Spain, including posting an income of US$982 million, surpassing the $900 million mark for the second consecutive year.
Bahia Principe Hotels & Resorts, along with the company’s residential and golf offerings, accounted for 70.1 percent of the family-owned business, reporting an income of more than $643 million. Grupo Pinero invested more than $120 million in this business unit in 2018 in efforts that included opening Bahia Principe’s 25th hotel, Fantasia Bahia Principe Tenerife, completing a renovation of Luxury Bahia Principe Ambar in Punta Cana, and initiatives aimed at improving efficiency and digitally transforming the company.
“In 2019, our reinvestment policy will focus on further differentiating our product, continuing to improve efficiency and completing a digital transformation of our organization,” said Encarna Pinero, chief executive officer of Grupo Pinero. “To be a sustainable company that efficiently manages its resources, we need economic and technological means, but above all, a motivated team that shares our vision.”
In 2018, sustainability continued to serve as a guiding principle for the company which holds a firm conviction in the importance of making a positive economic, social and environmental impact in the countries in which it operates. “The integration of the United Nations Global Compact’s Sustainable Development Goals into our overarching strategy, has enabled us to undertake cause-driven milestones. For example, 23 Bahia Principe hotels are now certified gold by Travelife – the certification system that stands at the forefront of assessing sustainability performance in the hotel industry, with 19 achieving the distinction in 2018.”
Hotel Business
The opening of Fantasia Bahia Principe Tenerife, the 25th Bahia Principe property and Grupo Pinero’s 27th property overall, was the most notable milestone of the year, marking the company’s first newly built hotel in Spain since 2003. Opened November 2018, the resort is comprised of eight buildings spread throughout more than 480,000 square-feet of space, offering 372 rooms, seven swimming pools, five restaurants, six bars, a water park, the brand’s signature Bahia Spa, and a wellness center. It is Bahia Principe’s first Fantasia-brand property in Spain, the brand’s family-friendly concept that offers all-inclusive thematic hotels with entertainment and programming for guests of all ages, opening nearly two years after the debut of Fantasia Bahia Principe Punta Cana.
Also in 2018, the brand renovated and reopened the adults-only Luxury Bahia Principe Ambar in Punta Cana, Dominican Republic, with new swim-up suites, revamped restaurants as well as a sports bar and fitness center open to adult guests of the brand’s six adjacent Bahia Principe Bavaro properties.
In terms of customer satisfaction, the Global Review Index, a global index that scores online reputation, reported an increase of four percentage points in the brand’s performance from 86.7 percent to 90.7 percent, quantifying the brand’s high service standards. The brand’s Net Promoter Score, an index ranging from 1 to 100 that measures a customer’s willingness to recommend a product or service to others, also increased by four points on average with eight hotels obtaining scores exceeding 40 points and Luxury Bahia Principe Cayo Levantado registering a record NPS of 59.7.
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