Sol Meliá sells one hotels for EUR 73.75 million

September 29, 2010 at 6:33 pm Leave a comment

Sol Meliá has sold the hotel Sol Pelícanos Ocas, located in Benidorm (Alicante), for 73.75 million euros, an operation that has generated a profit of 55.6 million euros, according to the hotel group’s reports to the  National Commission on Securities Market (CNMV).

After the sale, Sol Meliá will manage the hotel, with 794 rooms, with a lease that will last for ten years and the group will hold a right of first refusal on it.

sol melia sells one of its hotels alicanteThe hotel chain Escarrer family has stressed that this operation, like previous ones made by the company, will enable the organization to move forward in improving its portfolio and the revaluation of its brands, adding new products and deepening the growth based on different ways of managing and franchising and leasing.

Sol Meliá currently has 26 hotels in the process of incorporation and 7,177 new rooms, 80% will be under a management contract, 4% and 16% exemptions are governed by lease agreements.

Sol Melia has 300 hotels in 26 countries under the brands marketed by Gran Meliá, Meliá, ME by Meliá, Innside by Meliá, Tryp, Sol, Paradisus and Sol Meliá Vacation Club.

The hotel chain recorded in the first half of this year a profit of 13.5 million euros, 11.5 times more compared to 1.17 million earned in the same period the previous year.

source: realholidayreports.com

news source: elmundo.es

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Entry filed under: Golf, Hotels, News, Real estate, Spain Tourism. Tags: , , , , , , , , , , , .

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