Hogan Lovells assists IDB Invest in $120m financing to Grupo Piñero

Hogan Lovells has advised IDB Invest on a $120m financing to Caribbean hotel chain Grupo Piñero

 Global firm Hogan Lovells has assisted IDB Invest in a $120 million US dollar financing to Grupo Piñero, a leading hotel operator in the Caribbean and Mexico with 27 hotels in the region. In addition, Banco Popular Dominicano will provide an $80 million loan, for a total package of $200 million.

The financing will support Grupo Piñero in reopening its hotels in the Dominican Republic and Jamaica that were closed due to the COVID-19 pandemic. In addition, it plans to revitalise its regional portfolio and support foreign exchange generation, restore jobs lost during the pandemic, and also promote employee training.

BID Invest will also provide technical assistance for coastal zone protection, mangrove and coral restoration, as well as consultancy to analyse the impact of climate change on the group’s properties.

Hogan Lovells’ team was led by partners Ricardo S. Martinez in New York and Federico De Noriega (pictured left) in Mexico City, along with senior associates Chris Bonilla (New York) and Senal Ranatunga (Washington, D.C.), and associate Manuel Valdez (pictured right) in Mexico City.