Guavaberry Golf has bought the Hotel Santo Domingo

SD. The Hotel Santo Domingo has been bought by the owners of the Guavaberry Golf Club, S.A. project, trusted sources inside the tourism sector reported to Diario Libre.

According to the information that was offered, the land of this hotel-located at the intersection of Abraham Lincoln and Independencia avenues-would be added to the Hotel Hispaniola which is just across the street and also purchased by the same company.

The purchase was possibly motivated by the recent approval of the modifications of the Law on Tourism Incentives (158-01) which expand from 10 to 15 years the tax-free period and grants incentives at the national level and not just for the tourism poles.

The installations of the hotel are closed. Yesterday four men were guarding the entrance to the lobby. "It is closed for remodeling," said one of them to Diario Libre.

Diario Libre tried to contact representatives of the Guavaberry Golf Club, S.A., but was told that the owner, Tomas Olivo, was in Spain. This company has faced difficulties recently because of the announcement that the Republic Bank was going to place an embargo on the properties of the project in Juan Dolio because of a mortgage debt, and would auction them for US$16.5 million because of non-payment.

The owner was absolved last October of the accusation of paying €600,000 in exchange for real estate favors. He has also been convicted of abuse of his ex-wife and is one of the accused in the Malaya case (Marbella).