Meliá Hotels International will enter Santander into a subsidiary of three emblematic establishments

Meliá Hotels International today informed the National Securities Market Commission of the agreement reached by which the investment vehicle Moon GC&P Investments SLU, owned by Banco Santander SA, will take on April 11, 2024 a minority stake in the share capital of a subsidiary company of the Meliá Group, through the creation of new type B shares, of a preferential nature. 

The new joint subsidiary will own three prestigious hotel establishments with an extraordinary location, operated by the Meliá Group: Me London (London), Gran Meliá Palacio de Isora (Tenerife) and Meliá Cala Galdana (Menorca). 

The disbursement by Moon GC&P Investments, SLU for the acquisition of this minority stake will be 300 million euros, which will be included in the Non-Dominant Interests heading of the Consolidated Balance Sheet of the Meliá Group. 

As Ángel Luis Rodríguez, CFO of Meliá Hotels International, explains, “this operation is part of Meliá's strategic objectives, in order to maintain the strength of our balance sheet. The fact that it is supported by a partner with the prestige and leadership of Banco Santander is a guarantee and a magnificent sign of trust.” 

On the other hand, as stated by Ignacio Dominguez – Adame, head of Santander Coporate & Investment Banking (Santander CIB) in Europe, “The tourism sector is experiencing a moment of strong recovery with very good future prospects after the crisis caused by the pandemic. Banco Santander wants to be present in this phase, supporting and accompanying companies with innovative solutions that allow this recovery to be consolidated.” 

Rafael Noya, global head of GDF at Santander CIB, indicates: “We are pioneers in European investment banking in strategic solutions for our clients.”