RIU Buys Five-Star Hotel in the Bahamas for 30 million euros

Spanish chain RIU Hotels & Resorts forked over €30 million for the purchase of a five-star hotel in the Bahamas. Hubbed on Paradise Island –one of the islets belonging to the Bahamas Archipelago- this lodging was formerly owned by a local U.S. company. The establishment is currently undergoing a refurbishment process and will remain closed until its reopening scheduled for late December this year.

The new all-inclusive RIU Paradise Island has 350 beachfront rooms and provides all services any fancy hotel has to offer.

As a matter of fact, RIU Hotels is the first Spanish chain to own a resort in the Bahamas. With this addition, the company now counts 22 hotels in the Caribbean and has plans in the pipeline to open other facilities in Mexico and Jamaica.