Condo-Hotel Offers Hit the Dominican Travel Market

Group Metro has just unveiled a plan to talk customers and associates into buying suites in its hotels, many of them as large as European-style flats. Payment conditions include the possibility of direct financing options granted by the company without any banking intervention whatsoever.

The new modality was informed by Metro´s General Manager Luis Jose Asili who explained the company has already sold 40 of the 126 rooms up for grabs.

Suite owners will be entitled to benefits in keeping with the hotel´s occupancy rates. "This guarantees all-year-round profits, depending on occupancy rates and our ability to sell the hotel, which as a matter of fact, I must say it´s been pretty good," Mr. Asili pointed out.

Financing opportunities embrace a 7.5 percent annual interest rate to be defrayed in installments for the next eight years and zero percent interest in the first year following the purchase. "The idea is to lure young execs and deep-pocket impresarios who haven´t socked away enough money to make a huge down payment or buy out the property at one fell swoop," he added.

Mr. Asili went on to say that this new market segment will allow Group Metro to keep its hotel in good operational shape all the time.