AMERICAS – Spanish-based international hotel management company, Meliá Hotels International, has sold its ME Cancun Hotel for €61.2m (US$76m), generating a capital gain of approximately €26.4m.
The company will continue to operate the hotel, located in the Mexican Caribbean, under a management contract, maintaining the same quality standards already delivered by the hotel.
The sale forms part of its business strategy, aiming to become a more asset light company with more hotels under management, optimising the value of its brands and its management capacity.
With over 400 rooms, the ME Cancun is one of two resorts operated by the ME by Meliá brand in Mexico, together with the ME Cabo Hotel in Los Cabos, Baja California. Formerly known as the Meliá Turquesa, the ME Cancun was renovated in 2007 and relaunched under the company’s younger luxury brand.
The ME Cancun’s 16 meetings rooms include an exhibition hall with banqueting space for up to 480 delegates and its studio suite for 400 delegates theatre-style.
Meliá Hotels International was founded in 1956 in Palma de Mallorca, Spain and currently provides more than 350 hotels and 87,000 rooms in 35 countries on four continents.
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Melia Hotels International sells ME Cancun Hotel and retains management
