Sol Melia to open ME by Meliá hotel in London

The Spanish chain acquired the site from Anida, a subsidiary of the BBVA bank, and the hotel will open before the 2012 Olympics

The hotel is in the final stage of construction and is located in the tourist and business heart of London, next to Covent Garden and Trafalgar Square, in the district of Holborn. The ten storey building occupies a triangular piece of land which was previously the site of the famous “Casa Marconi” and the City Bank building. The hotel will provide 173 rooms in four different categories and will also offer a 730 m² Convention Centre and spectacular restaurants and bars.

The ME London is expected to open in 2012 and will become the second hotel for the Sol Meliá chain in the British capital, joining the Meliá White House, located next to Regent’s Park.

The acquisition has been made for 133 million euros and Sol Meliá will take over responsibility for finalising construction and equipping the hotel, estimated in 52 million euros.

The operation supports the Sol Meliá strategy for growth in its hotel business through enhanced brand equity, one of the focuses of the company’s Strategic Plan in recent years, and thanks to which the company has been able to combine rigorous control over costs and investments while also taking advantage of the most attractive market opportunities which have arisen during the crisis, including assets which have become available due to the real estate crash.

As explained by the Vice Chairman and CEO of Sol Meliá, Gabriel Escarrer Jaume, “this deal brings the addition of a strategic asset in a key destination, and also positions the brand in one of the most important feeder markets in the world travel industry”.

Sol Meliá is confident that the ME London, located in the heart of London’s social and business life, will further raise its brand awareness and reputation in international markets. The ME by Meliá brand is the most innovative and avant-garde luxury brand operated by Sol Meliá and currently includes two hotels in Spain, the ME Madrid and ME Barcelona, and two in Mexico, the ME Cancun and ME Cabo, with the addition also scheduled of the ME Vienna, occupying 22 floors of the tallest building in the Austrian capital.

The ME London hotel is scheduled to open in 2012 with “Biosphere Hotel" certification, a social and environmental hallmark already granted to the ME Madrid, ME Cancun and ME Barcelona” hotels of the same brand.

www.me-by-melia.com

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