According to local press sources, the company Equity Inmuebles, owner of 17 hotels managed by Meliá, has decided to sell all its assets and, although it is still in the initial phase, the operation has already been evaluated around approx. EUR 700 mln.

Equity Inmuebles owned by the Calero, Briones and Mazin families, the founders of the Tryp hotel chain, holds a portfolio of hotels managed by Meliá including Il ME Hotel in Plaza de Santa en Ana, Madrid. The 17 hotels have a total of 2,500 keys, distributed equally between leisure and art destinations.

Relations between Tryp and Meliá date back to 2000, when Meliá bought the chain’s 60 hotels for approx. $337m in cash and shares. In 2010, Meliá sold the Tryp brand to Wyndham for $43 million.