Playa Hotels & Resorts, S.L., a private equity company with investments throughout Mexico and the Dominican Republic, recently announced completed renovations and rebranding of three of its AMResorts properties, as well as renovations on two additional resorts. The rebranded hotels include Dreams La Romana, formerly the Sunscape Casa del Mar, Dominican Republic, Dreams Palm Beach, formerly the Sunscape Punta Cana, Dominican Republic and Dreams Puerto Aventuras, formerly the Sunscape Puerto Aventuras, Mexico.
In addition, Playa completed a major renovation of the Preferred Tower at the Dreams Puerto Vallarta, Mexico, as well as a major property refurbishment at the Barcelo La Jolla de Mismaloya Hotel, also in Puerto Vallarta. The renovation at these five properties totals $74 million dollars in asset improvements. Also underway, and scheduled for completion at the end of 2009, is an expansion and major renovation to the Barcelo Los Cabos Resort. That property will be expanded to 650 guestrooms and suites. The extensive renovation also includes six air-conditioned dining options and three outdoor restaurants, as well as new pool areas and significantly upgraded facilities throughout the property. Including the projects listed above, Playa will have spent over $175 million on capital improvements and new construction since 2007.