Melia Hotels Sells and Retains Management of ME Cancun Hotel
July 6, 2012 - Meliá Hotels International reported to the Spanish Stock Market Commission the sale of the ME Cancun Hotel, located in the major tourist destination in the Mexican Caribbean, for 61.2 million euros, generating a capital gain of approximately 26.4 million. The impact of the transaction is registered in the results for the second quarter 2012.
The company also announced that it will continue to operate the hotel under a management contract, maintaining the same quality standards already delivered by the hotel. The sale forms part of the progressive implementation of its business strategy, aiming to become a more asset light company with more hotels under management, optimizing the value of its brands and its management capacity.
With over 400 rooms, the ME Cancun is one of two resorts operated by the prestigious 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 fully renovated in 2007 and relaunched under the company's younger luxury brand, including a portfolio of hotels with a special personality in which the customer experience, cutting edge design, international cuisine, the latest technology and music all play a key role.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
