NEW YORK Sol Melia has invested Euro 7.3 million in refurbishing two Paris hotels under the Melia Boutique hotel brand. A further two hotels located in Paris are expected to be converted into the boutique brand.
The four hotels are part of a group of eight hotels which Sol Melia purchased from Lonestar in November 1999 for Euro 78.1 million. Sol Melia intends to extend its boutique hotel brand to 25 hotels by converting palaces, castles, convents and other historic buildings over the years. (1/5/01)
SOURCE: HVS International