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Starwood and Meliá Obtain a Moratorium on a €60 Million Mortgage

The hotel chains, through the 'Starmel Hotels' joint venture, have obtained a moratorium on a €60 million mortgage for twelve months.

Hotel Sol Beach House de Ibiza fuente Melia 1 1024x568 1

The crisis that the tourism sector is going through due to the coronavirus pandemic has caused hotel chains in Spain to resort to public aid to try to cope with the situation. In this sense, Starwood and Meliá have obtained a mortgage moratorium through the Government for the assets included in their Starmel Hotels joint venture.

Currently, that company owns two hotels: Meliá Fuerteventura, with 418 rooms, and Sol Beach House de Ibiza, with 275 rooms, according to Cinco Días.

Read the full article in Spanish.

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