Sol Melia Sells The Paradisus Riviera Cancun

In Preparation for Two New Flagship Paradisus Resorts in Mexico

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. May 03, 2010

April 30, 2010 - The Paradisus Riviera Cancun Hotel has been sold by the Sol Melia hotel portfolio after 9 years of management in preparation for the launch of two new flagship resorts, Paradisus Playa del Carmen and Paradisus Xaman. Sol Melia announced today its sale of shares in the Paradisus Riviera Cancun to majority shareholder, Martinon, to further focus on completing the construction of what are expected to be the finest resorts in Mexico's Riviera Maya.

Paradisus Playa del Carmen and Paradisus Xaman, a name inspired by the indigenous Mayan word for the area, will be located in Riviera Maya's prestigious Playa del Carmen enclave on Mexico's eastern shore renowned for pristine white sand beaches and turquoise water.

"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," says Gabriel Escarrer Jaume, Vice Chairman and Chief Executive Officer of Sol Melia. In addition, these properties are in line with the company's planned growth and existing CAPEX commitments for the following years.

Facilities and amenities for Paradisus Playa del Carmen include 534 suites, 122 of which are Royal Service and two Presidential; six restaurants, five bars and a signature Gabi Beach Club.

The Paradisus Xaman will feature 325 suites including two Presidential suites -- most notably 120 Family Concierge suites which allow for two & three bedroom suite configurations, unique in catering to the luxury family segment. The hotel will feature five restaurants and four bars in addition to a Gabi Beach Club and a Kid's Zone.

Both resorts will share a 20,000-square-foot YHI Spa and Health Club and more than 12,000 square feet of flexible meeting space. Each resort will also feature dramatic free form pools and artful landscapes which have become a brand signature. Complimentary life-enriching classes such as sushi making, wine tasting, etc. will also be available at both properties.

Paradisus Resorts are sophisticated, luxury all-inclusive resorts owned and operated by the Spanish brand Sol Melia Hotels & Resorts, one of the most successful hotel companies in the world. The two new resorts will join three existing properties, located in Costa Rica and two in the Dominican Republic.

Paradisus Resorts are elegantly designed with attention to every detail in mind. Spectacular architecture, world-class cuisine and premium service achieve the goal of allowing guests to experience ultimate relaxation in a stress-free and upscale environment, with the luxury of not once having to reach for a wallet. All properties reflect their surrounding environments and are set amid lush tropical gardens, chic restaurants, lavish suites, award-winning spas, pristine beaches and oversized, stylish swimming pools.

"Each Paradisus resort is envisioned as an oasis of modern design and decor for the sophisticated traveler who wants it all," said Alvaro Tejeda Schroder, Senior Vice President for Sol Melia's Premium Portfolio of hotels. "The pairing of award winning restaurant concepts with luxurious accommodations and exceptional service sets Paradisus as the gold standard amongst all-inclusive resorts."

Both properties were designed by Sol Melia's prestigious, Spanish architect, Alvaro Sans, to work harmoniously with Playa del Carmen's climate, magnificent terrain and stunning coastline. More a seaside palace than a resort, the Paradisus Playa del Carmen features an impressive amphitheatre overlooking the Gulf of Mexico, offering intimate environments as well as wide open, expansive spaces.

Sol Melia continues to invest in existing properties most recently infusing $10 million dollars into the refurbishment of 160 suites at the Paradisus Punta Cana property, which will be completed in November 2010.

About Sol Melia
Sol Melia was founded in 1956 in Palma de Mallorca (Spain) and is the world's leading resort hotel chain, as well as Spain's leading hotel chain in both the business and leisure markets. It currently provides more than 300 hotels in 26 countries on 4 continents under its brands: Gran Melia, Melia, ME by Melia, Innside by Melia, Tryp, Sol, Paradisus and Sol Melia Vacation Club. www.solMelia.com.

In 2006, the "Corporate Reputation Institute" of New York ranked the company amongst the corporations with the best reputation in the world, the leading hotel company and the second highest ranked company in the travel industry. Sol Melia is the only travel company included in the exclusive "Footse4Good Ibex" Spanish stock market index, and is the third ranked company in Spain amongst companies which generate the greatest degree of confidence and in the top three hotel chains for reputation.

In 2008 the company approved its Global Sustainability Policy and in 2009 it was named the first "Biosphere Hotel Company" by the Responsible Tourism Institute, supported by UNESCO. In the same year it was also awarded the Prince Felipe Award for Tourism Excellence for the second time.

The company currently employs more than 33,000 people worldwide with staff from over 90 different countries. The company fully respects equal rights and balance in its contracting of male and female staff and 10% of its workforce is made up of immigrants.