Sol Melia has announced the sale of the aparthotel Sol Aloha Playa, located in …
Sol Melia has announced the sale of the aparthotel Sol Aloha Playa, located in Benalmadena (Malaga, Spain), for 11.5 million Euros. The deal will generate capital gains for Sol Melia of 8.9 million Euros.
The deal forms part of the hotel company`s asset management strategy which, amongst other things, includes the sale of certain hotel properties whenever they are located in destinations in which the company operates other hotels that satisfy the needs of customers, and whenever the deals themselves are sufficiently profitable.
The sale is similar to that of the Sol Patos in October, 2003, a deal which generated capital gains of 11.3 million Euros.
In spite of the sales, Sol Melia continues to maintain a prominent leadership position in the region. The company is the leading hotel chain in Andalusia where it has 33 hotels (17,000 beds), of which 11 are in Malaga.
The 3-star aparthotel Sol Aloha Playa provides 172 studio rooms and is located in a residential area in Benalmadena- Costa (Malaga, Spain).
Sol Melia is the largest resort hotel company in the world and by far the largest hotel company in Spain, both in the city and resort hotel markets. The company currently provides 350 hotels in 30 countries on 4 continents and provides employment to more than 36,000 people in its Melia, Tryp, Sol, Paradisus and Hard Rock Hotels.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
