LONDON— Le Méridien has sold the first of six hotels in the planned second phase of its sale-and-leaseback program. According to recent reports, the group has sold the five-star, 212-bedroom Le Méridien Barcelona hotel to German investment company Deka Immobilien Investment for an undisclosed sum. The hotel, which first opened in 1958, will continue to be managed by Le Méridien on a long-term lease. It is currently in the middle of a refurbishment. The second phase of Le Méridiens sale-and-leaseback program involves several of its European hotels, and the company is seeking offers for properties in Madrid, Rome, Amsterdam, Sardinia, Malta and Milan. In the first phase of the program Le Méridien sold nine of its UK hotels to the Royal Bank of Scotland in June 2001. Jones Lang LaSalle advised Le Méridien on the sale of the Barcelona hotel, while Insignia Hotels advised Deka.
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