NewsWhore
09-14-2007, 02:30 PM
Tourism Minister Felix Jimenez announced Pareatis S.A. was awarded a 35-year lease on the Montana Hotel, in Jarabacoa. The company will pay a stipend of RD$67,000 (US$2,000) per month and commits to a RD$300 million investment in the hotel through 2010. As part of the deal, the first rent payment would be made in 2018 once the company recoups its RD$300 million investment. The hotel has been under renovation for several months, and the Ministry reports that RD$18 million of a budgeted RD$40 million had already been invested. Freddy Majluta, director of the Hotel Industry and Tourism Development Corporation (CORPHOTEL) signed the contract for the Dominican government. Jose Felix Cabrera Castillo, the main shareholder of Pareatis S.A., signed for the new operator. El Caribe describes Cabrera Castillo as a showbusiness promoter.
Cabrera announced he would invest RD$25 million to complete the structural renovations and another RD$67 million to equip the hotel, for an initial RD$110 million investment to get the hotel started. The company will be installing a casino to attract gamblers. This would be a first casino in the province of La Vega. The Ministry did not explain where the additional RD$200 million would be invested.
More... (http://www.dr1.com/index.html#5)
Cabrera announced he would invest RD$25 million to complete the structural renovations and another RD$67 million to equip the hotel, for an initial RD$110 million investment to get the hotel started. The company will be installing a casino to attract gamblers. This would be a first casino in the province of La Vega. The Ministry did not explain where the additional RD$200 million would be invested.
More... (http://www.dr1.com/index.html#5)