Meliá Hotels International has announced a strategic partnership with Banco Santander to strengthen its portfolio. The agreement, unveiled by Meliá to the National Securities Market Commission, involves the acquisition by Banco Santander's investment vehicle, Moon GC&P Investments S.L.U., of a minority stake in a subsidiary of the Meliá Group.

This collaboration marks Santander's entry into the hotel and restaurant sector, demonstrating its commitment to supporting industries vital to economic recovery. With a disbursement of 300 million euros, Moon GC&P Investments, S.L.U will obtain preferential B shares in the Meliá subsidiary. This major investment underlines Santander's confidence in Meliá's long-term growth prospects.

As part of the partnership, the new joint subsidiary will own three hotels: Me London in London, Gran Meliá Palacio de Isora in Tenerife and Meliá Cala Galdana in Menorca.

This collaboration is part of Meliá's strategic objectives to strengthen its balance sheet and position itself for sustainable success in the evolving hotel landscape. Ángel Luis Rodríguez, Chief Financial Officer of Meliá Hotels International, stressed the importance of the agreement.

In a statement, Ignacio Dominguez-Adame, head of SCIB Europe at Santander, said he was optimistic about the recovery of the tourism sector following the pandemic. Banco Santander aims to support this resurgence by providing innovative solutions to businesses, to ensure a strong and sustainable recovery.

"We are pioneers in European investment banking when it comes to providing strategic solutions for our clients." - Rafael Noya, Global Head of GDF at Santander CIB