The Presidential Suites Cabarete by Lifestyle Hotel has opened in Puerto Plata on the northern coast of the Dominican Republic.
The $36-million phased project has a total of 13 buildings with 105 units of one-, two- and three bedrooms. When all phases of development are complete, the property will have 163 units.
At the opening, Markus Wischenbart, president of the Lifestyle Group, reiterated his commitment to continue investing in the Dominican Republic, and especially in Puerto Plata, where he founded his first hotel. The property, the third under the Presidential Suites brand, is evidence of Puerto Plata’s tourism strength, Wischenbart said.
Wynn Group Companies, a Canadian investment group behind the development, chose the Dominican Republic for the construction of this new hotel due to the good investment climate that exists in the country, according to company spokesman Patrick Sleezer, who noted the company has had previous successes in the Dominican Republic.
The opening comes on the heels of Marriott International’s announcement that it would partner with a local company to bring three of its brands in Puerto Plata. The Maryland-based hotel company is working with the DR-based Ocean Club Group to develop a $350-million project that would add a trio of luxury resorts: a Ritz-Carlton, a W and a Luxury Collection property. According to the Caribbean Journal, the area has seen a “wave of luxury development” in recent years, including Aman’s Amanera luxury property on Playa Grande and the recent relaunch of the Playa Grande Golf and Ocean Club.