AMResorts plans to double its Dreams
Resorts & Spas portfolio over the next three years with the
addition of seven new resorts in Mexico and the Dominican Republic.
AMResorts and
parent Apple Leisure Group have hinted at what they are planning to
do with some added capital following the news that Barcelo
Crestline Corp., the U.S.-based asset manager for Playa Hotels
& Resorts, purchased a minority stake in Apple Leisure Group
last week. And just yesterday, Playa announced that it bought six
resort properties from AMResorts.
AMResorts operates
three brands: Secrets Resorts & Spas, adults-only, luxury
all-inclusive resorts; Dreams Resorts & Spas, couples and
family, luxury all-inclusive resorts; and Sunscape Resorts &
Spas, family-fun all-inclusive resorts.
In December, the
former Sunscape the Beach Punta Cana in the Dominican Republic will
be upgraded to the Dreams Punta Cana Resort & Spa, following a
multi-million dollar makeover. And Dreams Riviera Cancun Resort
& Spa, which recently broke ground, will be the fifth Dreams
property in Mexico when it opens in late 2008.
Over the next three
years, AMResorts will open five additional Dreams resorts in
Mexico: Dreams Nuevo Vallarta Resort & Spa, mid-2008; Dreams
Huatulco Resort & Spa, late 2008; Dreams Pearl Sands Riviera
Cancun, early 2009; Dreams Punta de Mita Resort & Spa, late
2009; and Dreams Vallarta Bay Resort & Spa, early
2010.
AMResorts was not
available for comment.
On Thursday, Playa
Hotels & Resorts announced it was purchasing six all-inclusive
resorts in Mexico and the Dominican Republic from AMResorts,
including the Dreams Cancun Resort & Spa, the Dreams Puerto
Vallarta Resort & Spa and the Secrets Capri Riviera Cancun. The
three other properties will be announced in the coming weeks. In
addition, the Sunscape Casa del Mar, La Romana, a property
purchased from AMResorts in July, will be re-branded into a Dreams
resort.
Playa Hotels &
Resorts did not divulge how much it is paying for the resorts but
said it is putting aside $25 million over the next year to upgrade
them. That includes rebranding three of the seven properties and
two of the as-yet unknown resorts.
To
contact the reporter who wrote this article, send e-mail to
Michelle Baran at [email protected].