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Meridia to invest 200 million in new economy hotels and allies with B&B Hotels

B&B Hotels and Meridia have formed a new alliance to develop budget hotels and have purchased land in Madrid, Seville and Tarragona. The new establishments are expected to include more than 500 rooms. How will it work?

With an investment of 200 million euros, Meridia is expected to acquire land in Spain's main cities in the periphery. The hotels to be developed will have between 100 and 200 rooms and will be leased to B&B Hotels in an operation organized and advised by the law firm Garrigues.

The purchase of the land has already been advanced for the realization of this project located in Vallecas (Madrid), two in Seville and Vilaseca (Tarragona). The total number of rooms is estimated to be more than 500 rooms and it is expected to start operations in 2024.

The construction of the hotels will be planned with the utmost sustainability and are expected to have international certification such as LEED or Breeam. 

LEED is a globally recognized certification and rating system for green buildings. Breeam is similar, only its main involvement can be seen in the European market. Both offer a seal of sustainability for buildings.

Meridia continues to analyze similar operations to be carried out in locations with high hotel demand. In the next few months, it expects to put them into operation.

B&B Hotels is growing rapidly in Spain and Portugal. In 2022 the number of hotels was 52 in Iberia, and it aims to exceed 60 by 2023. Thanks to the partnership with Meridia, this goal could materialize quickly.

The B&B Hotels chain was already growing with a revenue of more than 50% in 2019, and thanks to Meridia's €200 million investment its number of hotels will increase and have a solid positioning.

The hotel company has announced that it will have the strategic support of Lexxa Hotels for the search for opportunities, execution of development work and financing and exit.