IDB Invest led a $120m funding round in Grupo Piñero.

IDB Invest, a multilateral development bank, led a $120m funding round in Grupo Piñero, an operator of a hotel chain across the Caribbean and Mexico. Banco Popular Dominicano will provide an $80m loan. With this financing, Grupo Piñero plans to revitalize its regional portfolio, coinciding with the return of international travel, which has been gradually increasing, as well as supporting the generation of foreign exchange. The reopening of its portfolio will reactivate local value chains, reestablish jobs lost during the pandemic, in addition to maintaining existing ones, and also promote the training of employees.