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Sol Mella Changes Its Name to Melia Hotels International

This new corporate name marks the start of a new future for the company which has emerged from the economic crisis even stronger than before and now embarks on a journey to achieve unprecedented globalization on par with the most important multinational hotel chains.

Sol Melia Sol Melia, Spain's leading hotel chain, has changed its name to Melia Hotels International. This new corporate name marks the start of a new future for the company which has emerged from the economic crisis even stronger than before and now embarks on a journey to achieve unprecedented globalization on par with the most important multinational hotel chains.

Gabriel Escarrer, the company's Chief Executive Officer and Vice Chairman, unveiled the new corporate name Friday (6/3/11) at the Palacio de la Bolsa de Madrid (Madrid Stock Exchange), opening trading by ringing the bell on the first day of trading for the new Melia Hotels International.

In an event which brought together investors, stakeholders and the media, the company's senior executive revealed the process of adapting to the new international stage. After successfully navigating through the economic crisis, the hotel company has defined a new Strategic Plan for the 2012-2014 period with a clear focus on globalization, the development of its hotel management capacity and its commitment to sustainability.

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To develop the new Strategic Plan, the company has also adapted its internal structure, enhancing strategic areas and creating two new business areas: Asia Pacific and Real Estate, which will lead the growth in the region and maximize returns on company assets, respectively.

This new stage is also accompanied by a renewal of the company's mission, culture and values, which are defined as Vocation for Service, Excellence, Innovation, Proximity and Consistency, the main attributes of the new Melia Hotels International.

During his speech, Mr. Escarrer explained the company's evolution since its foundation in 1956, reviewing the company's growth in the different markets where it now operates, as well as the acquisition and creation of the hotel brands which today make up its portfolio.

The company's Executive Vice President Marketing, Luis del Olmo, and the Managing Director of the consultancy firm Future Brand, Ignacio Linares, described the process behind the definition of the new name, which selected the company's most international and recognised brand - Melia Hotels & Resorts – and added the word "International" to emphasize the diversity of business and brands as well as its global nature.

According to Luis del Olmo, "The revitalization of the corporate name will be a catalyst towards a new era for one of the world's largest resort hotel chains, helping us strengthen our growth plans and achieve greater international recognition." "With this new name," added Mr. Escarrer "we will combine the legacy of Sol Melia, including its portfolio of brands, its know-how, its service culture and its talented employees, with the aspiration of becoming a point of reference for international tourism; one which is global in its outlook, efficient, reliable, responsible and able to compete amongst the largest multinational groups."

The Vice Chairman and CEO of Melia Hotels International ended his speech describing the vision of the future to which the company aspires, involving, amongst other objectives, "earning a position amongst the world's leading hotel companies and being seen as a world leader in excellence, responsibility and sustainability."



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