Grupo Piñero has partnered with BFI Bank to establish Bahia Principe Hotels & Resorts' first hotel in Cape Verde, a significant investment expected to create over 500 jobs and enhance the local tourism sector.
Target Information
Grupo Piñero, a prominent player in the hospitality sector, has taken a significant step toward expanding its global footprint by signing an agreement with BFI Bank to establish the first Bahia Principe Hotels & Resorts branded hotel in Cape Verde. This new venture marks the introduction of an 'Asset Light' project for Grupo Piñero's Hotel Division, indicating a strategic approach toward investment and resource allocation.
The hotel will operate under the Bahia Principe Fantasia Cabo Verde brand, which is well-known for its family-oriented vacation offerings. Located in Murdeira on the island of Sal, this 5-star hotel is set to feature 605 rooms and is scheduled to open in 2027, with an estimated investment of €120 million.
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Industry Overview in Cape Verde
Cape Verde has emerged as a notable tourist destination, experiencing growth driven by its appealing climate and beautiful landscapes. The tourism sector is pivotal to the country's economy, genera
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Grupo Piñero
invested in
BFI Bank
in 2024
in a Joint Venture deal
Disclosed details
Transaction Size: $131M