Palma de Mallorca, 31-07-2009.-

Sol Meliá today announced the signature of an agreement with the owners of the current Hotel Sheraton Bilbao by which the Majorcan hotel chain will manage the hotel under its “Meliá” brand from 15 September. The change of management was confirmed to hotel staff this morning and is a sign of the confidence of the hotel owners (Grupo Cosimet e Ybarra & Cia) that Sol Meliá can add greater value to an extraordinary asset such as this Hotel in the Abandoibarra district of the city. According to the hotel owners, the new agreement with Sol Meliá will allow “stronger management through a more ambitious project which will allow this magnificent building to take up its rightful position as the best hotel in Bilbao”.

Located in Abandoibarra, the “new district” of Bilbao and the result of a redevelopment of the Bilbao riverside, including the location of the famous Guggenheim Museum, the hotel provides 211 rooms, a spa, and meeting and event facilities which make it perfect for the growing demand for conventions and incentive trips in Bilbao, a city which continues to grow both in the industrial and service sectors. The new hotel also allows Sol Meliá to make further progress in its plan to extend its hotel portfolio with outstanding hotels in major Spanish and European cities located in exceptional classic or modern buildings. The building which houses the hotel was designed by the Mexican architect Legorreta, Pritzker Prize winner for Architecture.

Renovation and experience

After the signature of the agreement, the hotel owners and new management team announced their aim to further enhance all of the service attributes and guest experience at the hotel to make it a new point of reference for Bilbao society.

Amongst the attributes and values the Meliá brand will bring to this magnificent hotel are an authentic passion for service, a desire to create unforgettable memories for guests with sensorial architecture which aims to stimulate the 5 senses of guests through a fusion of music, ambient light and Blue Velvet, the exclusive aroma of the Meliá brand.

Amongst the proposed innovations are the Q Lounge, an exclusive Meliá brand facility designed to add new energy to the cafeteria concept, with music and weekly social events. Q Lounge will extend its premises into the lobby offering a snack and sushi experience accompanied by music and sensations.

The Meliá brand will also bring the exclusive The Level concept, adapting several rooms in the hotel to allow them to provide special services including a private lounge for check-in, check-out, culinary presentations, an open bar and a private meeting area.

Together with the “Meliá Experiences” attributes, the agreement with the Majorcan hotel chain will also allow the hotel access to the powerful Sol Meliá sales and distribution network, one of the major strengths of the company,  including the new brand website www.melia.com and the corporate site at www.solmelia.com.

According to the Vice Chairman and CEO of Sol Meliá, Gabriel Escarrer Jaume, “the addition of this modern and prestigious hotel in Bilbao is a further sign of the success of a growth strategy based on management and lease agreements thanks to the strength of our brands and the trust and confidence they enjoy amongst consumers “.

Sol Meliá continues to grow

Sol Meliá has also informed the Spanish Stock Exchange Commission that it has signed a sale and lease back agreement with BBVA Renting for the Meliá Madrid Princesa, by which Sol Meliá will continue to manage the hotel under a lease agreement for a period of 12 years, after which it will also have preferential purchasing rights over the property.

The operations forms part of the company strategy to strengthen its balance sheet and cash flow with a view to reinforcing company finances in order to take advantage of any competitive opportunities which may arise as a result of the crisis and thus stay in line with the strategic growth objectives which Sol Meliá insists will be fundamentally based on management, lease and franchise agreements.

The company has also added a modern four star hotel with 262 rooms in Valencia in Spain currently known as the Hotel Urbem, with a spa, major convention centre and attractive dining facilities located in the new financial, commercial and cultural heart of Valencia next to the City of the Arts and Sciences. The hotel will be managed under the Meliá brand. Sol Meliá has also signed an agreement to take over another hotel in Getafe in the outskirts of Madrid, the “Tryp Los Ángeles”, and a second newly-built Meliá hotel alongside Lake Batak, in an area of Bulgaria specialising in spa and winter tourism. Sol Meliá already operates four additional hotels in Bulgaria.

In 2008 and 2009 Sol Meliá has added 23 new hotels to its portfolio, including such prestigious hotels as the Meliá Hotel de la Reconquista in Oviedo, Spain, the Meliá Luxemburg, the Gran Meliá Palacio de Isora in Tenerife, Spain, and the ME Barcelona. The company is also finalising preparations for the imminent opening of a new jewel in China: the Gran Meliá Shanghai.