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SOL MELIA SELLS MELIA BAVARO.

Sol Melia, the Spanish hotel chain, sold the Melia Bavaro of Punta Cana to the Grupo Princess of Catalunya, Spain, reports the Barcelona daily La Vanguardia (July 10, 2000). Princess reportedly paid US$61 million for the property, located on the east coast.

Earlier, it had been rumored that Melia would sell the property to Best Hotels of Catalunya. The hotel will now be known as Bavaro Princess, and will be the first of this chain's expansion into the Americas.
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Title Annotation:International Pages
Comment:SOL MELIA SELLS MELIA BAVARO.(International Pages)
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:4EUSP
Date:Aug 1, 2000
Words:80
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