Melia Hotels International to Build and Operate Five Innside by Melia Hotels in Chile

Meliá Signs Agreement with a Private Investment Fund Lead by Grupo Armas to Develop the Hotels with the First Opening to Occur in 2014

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. June 13, 2013

Palma de Mallorca - June 13, 2013 - Meliá Hotels International has taken an important step in its growth in Latin America with the announcement of an agreement to open 5 Innside by Meliá hotels in Chile together with the a Private Investment Fund lead by Grupo Armas, the first for the Innside by Meliá brand in the Americas after its rapid international growth over the past year. The intense growth of the company continues with the addition of a new hotel around every three weeks, and 14 new hotels signed up in Europe, the Middle East and Latin America already In 2013.

The agreement involves the construction of 5 hotels by Grupo Armas which will be managed by Meliá Hotels International, and is very much in line with the strategies of both companies. For Meliá,, it is an excellent introduction to a high-potential market in a region in which the Company has high brand recognition and a leadership profile which allows low capital intensive growth through hotel management agreements. In particular, the Hotel Group notes that this growth comes from the hand of a solvent group of acknowledged prestige as Grupo Armas.

For Grupo Armas, its properties will enjoy the benefits of the strength of the successful international Innside brand along with the management guarantee provided by almost 60 years of experience and the proven track record of Meliá Hotels International.

As part of the agreement, the companies also signed the management contract for the first of the five hotels to be developed in Santiago de Chile along the coming 5 years: the Innside Santiago, a modern and avant-garde hotel located in Bucarest Street in the heart of the Providencia district, the city's financial and commercial heart, which will open in 2014.

The hotel will offer 120 rooms, restaurant, bar and gym, plus 250m2 of meeting and event rooms. Meliá Hotels International will play an active role in the final design through a technical assistance agreement with the owner, ensuring compliance with the standards demanded by the "business lifestyle" Innside brand aimed at travellers attracted by practical design, intelligent smart and efficient service and functionality, combined with leisure options and contact with the city.

Both Meliá Hotels International and Grupo Armas will be also actively looking for opportunities to develop the brand in countries where Grupo Armas is already active, such as Peru and Colombia.

The Innside brand has fifteen hotels open or scheduled in Germany, three in Madrid, one in Manchester, another in Copenhagen, and one in Malaysia, and Santiago de Chile will become its first hotel on the American continent. For this reason, and given the importance of the strategic agreement, Gabriel Escarrer, Vice Chairman and CEO of Meliá Hotels International, stated after signing that "our company is very excited about the prospect of operating in Chile, in particular with Innside by Meliá, a brand that is proving to be a revelation in the city hotel industry, and also about the prospect of working with a such a solvent and powerful company as Grupo Armas, a perfect partner for us and one which offers the best guarantees for development of an ambitious project which will undoubtedly change the face of the urban hotel industry in Chile."

For Cristian Armas, Chief Executive Officer of Grupo Armas, "we believe in the potential of the urban hospitality industry in a country like Chile, and we are thrilled to involve ourselves in it with a partner like Meliá Hotels International, a leader not only in Latin America, but in a country as influential as Spain, in Europe, and currently present in 39 countries. We think that the Innside hotels, now rapidly expanding worldwide, will perfectly fit today's Chilean business traveller needs and will exceed their expectations".

About Meliá Hotels International

Meliá Hotels International was founded in 1956 in Palma de Mallorca (Spain) and is one of the world's largest resort hotel chains, as well as Spain's leading hotel chain. It currently operates and distributes more than 350 hotels and 90,000 rooms in 35 countries on 4 continents under its brands: Gran Meliá, Meliá, ME, Innside, Tryp by Wyndham, Sol and Paradisus. Its product and service portfolio is complemented by Club Meliá, the only vacation club operated by a Spanish company.

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Contact: Communication Department
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About Innside by Meliá

Innside by Meliá hotels provide a lifestyle business experience, efficient and smart service, contemporary design and the latest technology, making them an excellent choice for both business and leisure travellers. The German origin brand, which joined Meliá Hotels International portfolio in 2007, is one of fastest growing company's brands, with an ambitious expansion plan and several hotels to open in cities such as Copenhagen, Manchester, Madrid, Dusseldorf or Yogyakarta. www.innside.com

About Grupo Armas

Empresas Armas is one of the leading Real Estate groups in Chile, possesses 49 years of experience and extensive experience in developing projects in architecture, urban planning, construction and engineering, being acknowledged for delivering quality and design solutions in the most convenient locations and in each of its business units. At present, the group has developed projects of architecture and urbanism of more than one million square meters in buildings and 15 million square meters of subdivisions, new neighborhoods and community planning, summarized in over 200 projects. Moreover, Armas has started its internationalization in a market like Peru. The constant pursuit of diversification in multi-product and service offering is key for Armas Group, which today has already Armas and ViveHogar brands, covering housing projects subsidized or unsubsidized, offices, commercial and industrial.