Dominican Republic Real Estate - Caribbean Investments properties specialist

SANTO DOMINGO, Dominican Republic -- New Resort Marks Eighth Property in the Company's Portfolio and Fifth Property in the Dominican Republic

Viva Wyndham Resorts today announced the $20 million acquisition, remodel and expansion of a resort in Samana, Dominican Republic. The property will be renamed the Viva Wyndham Samana and marks the eighth property in the company's portfolio and its fifth in the Dominican Republic.

The new property, the company's second acquisition this quarter, underscores Viva Wyndham's growth strategy to be the largest all-inclusive resort brand in the Caribbean offering customized vacation experiences to meet the diverse needs of travelers, at an exceptional value.

Located on the Dominican Republic's northeast coast in Las Terrenas on the Samana Peninsula, the 218-room Viva Wyndham Samana will open Dec. 1, 2004, following the completion of property renovations, which include the addition of a Kid's Club, a Mediterranean restaurant, discotheque and fitness center.

"The Dominican Republic is becoming one of the most sought-after Caribbean destinations and is rapidly gaining U.S. market share, thanks to its natural beauty and distinctive culture," said Ettore Colussi, president of Viva Wyndham Resorts. "The Viva Wyndham Samana, in addition to the recently acquired Viva Wyndham Playa Dorada in Puerta Plata, gives us another opportunity to bring our signature value-added, all-inclusive vacation experience to an entirely new region of the island."