looking to buy business in DR

Member since 21 April 2015

craig44Member27 April 2015 01:17:11

Hi members,
I am new on here and excited to learn more from you that are already living here. My partner and I have been in the hotel business in Texas for many years. We are looking at some hotels there in different parts of the country. Of course the Realtor we are dealing with is telling me the areas his listings are in is the best We have several properties we are coming to see; but would like to eliminate a few if the areas are not good. One of the properties is in Barahona in the southern area. Also, Cabrete and Sosua in the north. @ are in Santo Domingo; but those are at the bottom of our desire. I have researched and know the northern area along with Punta Cana are the big tourist spots. This Barahona property is really great; is that a destination spot for tourists or families from Santo Domingo? Any help and advice will be appreciated. We will come and plan to drive the island looking but your input will make a lot of sense for us in our due diligence. Also, this realtor says he can help with the business setup with the Govt. Has anyone had experience with purchasing a company there?
Thanks so much

dominicanfun Active member

Member since 05 April 2015

dominicanfunActive member27 April 2015 11:50:25

Hey, generally speaking - I would be very careful about it and very careful about doing business in DR.
if you speak no Spanish, have no concept of local mentality and reality - I would suggest reconsidering your choices.
as for hotel in Barahona region - it is beautiful region, but not so many tourists go there and the beaches are rocky with usually very dangerous tide and waves.
unless you plan to make it available for some kind of package tourists and make some deal with travel agencies from Europe/ US I see no real possibilities to make money here.Barahona can be tourist destination for local people from SD, but will it be sufficient ? I doubt about it.
Sosua and Cabarete are popular - but there are already 10's of hotels there...

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert28 April 2015 11:41:47

17669

Welcome to the forums. You are one step ahead of most as you have experience in your industry!! Barahona is the "new" hotspot but maybe years away from full development. NOrth Coast has been suffering a few years but is set up to improve. Next October the new Carnival cruise terminal opens which will directly effect Puerto Plata area but not likely Sosua or Cabarete. Keep that in mind.

Bayahibe, Bavaro and Punta Cana are hot spots. But everything there is very expensive so you may have to really search for an opportunity.

Realtors - no MLS type system so they represent there own listings and really don't want to help you find someone else's listing.....

I have helped several clients buy companies here. But, I am really not available to help other then answering questions here or by private message.

Remember buyer beware here. Get a good lawyer. Double check everything!