Ritz Carlton Plans $1B Dominican Project

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DOMINICAN REPUBLIC-This island nation of 9.1 million people has been tapped for a $1-billion vacation complex to be headlined by the Ritz Carlton. The international lodging firm will team with a Dominican-based developer to create its Ritz Carlton, Cap Cana, a mix of hotel rooms and 194 privately owned residences. The project represents the next phase of a 30,000-acre oceanfront development envisioned by Cap Cana SA, an affiliate of leading Dominican holding company Abrisa Group. Already, $1.5 billion has been spent on infrastructure and accommodations.

“Cap Cana has envisioned a bold luxury tourism and real estate development project that promises to be one of the most exciting new destinations in the Caribbean,” says Marriott International CEO J.W. Marriott Jr. in announcing his company’s participation. Besides the firm’s Ritz-Carlton brand, Marriott expressed hope that Cap Cana will consider other Marriott flags for the complex as the project matures.