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Meliá joins forces with Santander to enlarge its hotel portfolio

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Printed on 20/02/24 – Updated on 20/02/24

Meliá Accommodations Worldwide has introduced a strategic partnership with Banco Santander to beef up its portfolio. The settlement, unveiled by Meliá to the Nationwide Securities Market Rate, entails the acquisition by Banco Santander’s investment car, Moon GC&P Investments S.L.U., of a minority stake in a subsidiary of the Meliá Community.

This collaboration marks Santander’s entry into the hotel and restaurant sector, demonstrating its dedication to supporting industries a must-must economic recovery. With a disbursement of 300 million euros, Moon GC&P Investments, S.L.U will carry out preferential B shares in the Meliá subsidiary. This considerable investment underlines Santander’s self perception in Meliá’s long-term boost prospects.

As phase of the partnership, the original joint subsidiary will dangle three accommodations: Me London in London, Gran Meliá Palacio de Isora in Tenerife and Meliá Cala Galdana in Menorca.

This collaboration is phase of Meliá’s strategic targets to beef up its balance sheet and remark itself for sustainable success in the evolving hotel panorama. Ángel Luis Rodríguez, Chief Monetary Officer of Meliá Accommodations Worldwide, stressed the importance of the settlement.

In a press initiate, Ignacio Dominguez-Adame, head of SCIB Europe at Santander, said he became once optimistic about the recovery of the tourism sector following the pandemic. Banco Santander aims to enhance this resurgence by offering modern alternate choices to agencies, to make certain a sturdy and sustainable recovery.

“We’re pioneers in European investment banking by strategy of offering strategic alternate choices for our customers.” – Rafael Noya, World Head of GDF at Santander CIB

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