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Meliá Sells a Portfolio of Eight Hotels to Bankinter for More Than 200 Million Euros

The group has reached an agreement with Bankinter to build a new investment vehicle to which it will contribute eight assets.

Meliá Hoteles International has sold the investment arm of the bank, 92.5% of a company that owns eight hotels, in which the bank participates along with a small number of its high net worth clients and institutional investors to Bankinter Investment. The price of the transaction is slightly over 200 million euros, according to market sources.

The company, which will be renamed Victoria Hotels & Resorts, S.L., will be majority-owned by Bankinter, while the hotel chain will hold 7.5% of the capital.

In addition, GMA, the firm that manages Atom, Bankinter’s hotel Socimi, will become a managing partner of the company and also a shareholder.

The hotels included in the deal are: Gran Meliá Victoria (Mallorca), Meliá Tamarindos (Gran Canaria), Meliá Granada, Sol Beach House Menorca, Meliá Salinas (Lanzarote), Innside Bosque (Mallorca), Meliá Atlanterra (Cádiz) and Innside Zaragoza.

Read the full article in Spanish

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