Spanish hotel chain heavyweight,Sol Melia,said last week that it has sold its stake in a Cancun hotel in order to focus on two new luxury resorts in theRiviera Maya real estate market,near Playa del Carmen.
By selling its shares in the Paradisus Riviera Cancun,the international hotel leader said it can now put all its efforts into the new Paradisus Playa del Carmen and Paradisus Xaman resorts.
Vice Chairman and Chief Executive Officer of Sol Melia,Gabriel Escarrer Jaume,said,"In times of change we must capitalize on opportunities,focusing on products which exceed the expectations of our guests,especially in the areas of sustainability,and qualitative value."
Sol Melia had managed the Cancun hotel for 9 years before selling its remaining stake to the hotel's majority shareholder,Martinon.
This now clears the way for the hotel group to put all its attention into completing the construction of the Riviera Maya real estate projects.
They said the Paradisus Playa del Carmen will include 534 suites and the Paradisus Xaman will feature 325 suites.
The company describes the new Riviera Maya real estate destinations as "sophisticated,luxury all-inclusive resorts" that will include a 20,000 square foot (1,858 sqm) health club and spa. In addition,they will include over 12,000 square feet (1,115 sqm) for meetings,"free form" pools and landscape gardens.
Sol Melia was founded in Spain 54 years ago. It is Spain's leading hotel chain and also one of the biggest in the world.
Operating in both business and leisure markets,Sol Melia currently has in excess of 300 hotels in 26 countries under their brands: Gran Melia,Melia,ME by Melia,Innside by Melia,Tryp,Sol,Paradisus and Sol Melia Vacation Club.
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