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Meliá Hotels International closes deal on 8 hotels

The transaction includes six hotels owned by Meliá, and its stake in a company that owns two other properties, all of which will continue to be operated by Meliá Hotels International, which will own 7.5% of the new company, providing it with capital gains of approximately 62 million euros.

Meliá Hotels International and Bankinter Investment, the investment banking arm of Bankinter, have signed the sale by Meliá Hotels International of 92.5% of a company that owns eight hotels, in which the bank participates with a small number of its clients and institutional investors.

Meliá Hotels International is thus fulfilling its commitment to sell hotels to increase its liquidity after the crisis caused by Covid-19, also allowing the transformation of some assets.

The company, which will be renamed Victoria Hotels & Resorts, S.L., will be owned by Bankinter and Meliá Hotels International with 7.5% of the company's capital respectively.

The hotels involved in this partnership are: Gran Meliá Victoria (Mallorca), Meliá Tamarindos (Gran Canaria), Meliá Granada, Sol Beach House Menorca, Meliá Salinas (Lanzarote), Innside Bosque (Mallorca) Meliá Atlanterra (Cadiz) and Innside Zaragoza.

With the exception of the Innside Bosque and the Innside Zaragoza, whose renovation works have recently been concluded, all the other hotels will be renovated after the transaction. For these financing needs, Bankinter Investment is coordinating the financing structure to undertake the aforementioned renovations in the hotel establishments with a spending line of more than 125 million euros.

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