Meliá Hotels International and Baha Mar Ltd. Announce Meliá at Baha Mar

• The Baha Mar project, with an investment of $3.5 Billion (U.S.), will lead The Bahamas' hotel and leisure offering to a new dimension
• First hotel in the English-speaking Caribbean for the rapidly expanding Spanish global group, Meliá takes over as operator of Nassau Beach Resort on December 1, 2013 and launches cross-brand 'You say Flamingo, I say Flamenco' opening promotion

The Chairmen of Baha Mar Ltd. and Meliá Hotels International today signed an agreement for Meliá to operate the all-inclusive Meliá at Baha Mar, in the luxury leisure development Baha Mar. The $3.5 billion (U.S.) investment, comprised of 1,000 acres with more than 3,000 feet of pristine ocean front, is just twelve minutes from Nassau International Airport. Meliá's extensive experience and international footprint have been key qualifiers for the expanding Spanish global group to be selected as part of this ambitious and revolutionary project.

Baha Mar, one of the most important destination transformation projects currently taking place in the world, will now include five hotels, private residences, gaming, golf, shopping, entertainment, and natural attractions that embody an authentic Bahamian experience. In addition to Meliá at Baha Mar, the stunning portfolio of Baha Mar properties will feature other prestigious international brands including Rosewood Hotels & Resorts®, Mondrian, and Grand Hyatt, all anchored by its impressive centerpiece, The Baha Mar Casino & Hotel.

The Bahamas newest luxury lifestyle destination will offer more than 2,900 hotel rooms and residences, overlooking a white sandy beach and pristine turquoise waters. World- class amenities include the 100,000 square foot casino, an 18-hole, 72-par Jack Nicklaus Signature Golf Course, and ESPA spa and more than a dozen stunning pools. A dedicated on-site convention center will be the cornerstone for the approximately 200,000 square feet devoted to meeting and conventions facilities making Baha Mar a new mecca of leisure and business tourism.

On December 1, 2013, Meliá will take over the operation of the Meliá Nassau Beach Resort. The Meliá Nassau Beach Resort, featuring 694 rooms and multiple spaces for meetings and conventions, will be executing a renewal plan that will be completed by December 2014, without any interruption to the guest experience. The thorough refurbishment plan is focused on upgrading and adapting the hotel to Meliá's demanding brand standards. Upon completion of renovations and simultaneously with the opening of Baha Mar, it will be renamed Meliá at Baha Mar. Highlights of the refurbishment will be new restaurant concepts, updated pools and an enhanced lobby area, all designed with the guests' utmost comfort and customer experience in mind, a Meliá signature.

"Meliá brings a wonderful, upscale name with global recognition and exceptional values to our brand portfolio at Baha Mar," said Sarkis Izmirlian, Baha Mar's Chairman and Chief Executive Officer. "The company's expertise in the European, Latin American and Russian markets will further support Baha Mar in attracting a worldwide clientele. In addition, Baha Mar will be proud to offer Meliá's all-inclusive resort experience, which is a leader in one of the fastest-growing segments in vacation travel."

Gabriel Escarrer, Chairman of Meliá Hotels International, noted that "the addition of the new Meliá Nassau Beach and the prospect of the future Meliá at Baha Mar being part, within a year, of one of the most ambitious hotel and leisure projects in recent decades, is a new source of pride for our brand, already present in 40 countries. Opening our first hotel in the English-speaking Caribbean, complementing our presence in the best vacation destinations around the world, is also a major achievement for Meliá Hotels International."

Obediah Wilchcombe, Minister of Tourism for the Commonwealth of The Bahamas, said, "Our Ministry is pleased to welcome Meliá Hotels International to The Bahamas, where it will help to attract international visitors who prefer the convenience of an all-inclusive resort. Meliá Hotels International's global reputation for quality and guest service will be a tremendous asset as The Bahamas seeks to increase international air lift."

To celebrate this new partnership between the Bahamian and Spanish cultures, officially starting December 1, 2013, Meliá Hotels International will be offering an opening promotion, 'You say Flamingo, I say Flamenco,' extending a complimentary night stay at Meliá Sevilla with the purchase of three nights at Meliá Nassau Beach resort. In turn, customers that book three nights at Meliá Sevilla will enjoy a complimentary night stay at Meliá Nassau Beach. This opening promotion honors the blending of two vibrant cultures and the word for Flamingo in two languages. Flamenco, the traditional dance heralding from Sevilla, Spain, is also the Spanish word for Flamingo. Flamenco, the national dance of Spain, where Meliá Hotels International's headquarters are located, and the Flamingo, the beautiful national bird of The Bahamas, can both be enjoyed by guests through the Meliá Nassau Beach opening promotion. Find details on www.melia.com.

About Baha Mar

Baha Mar, which is scheduled to open in December 2014, is set on 3,000 feet of white- sand beach just 12 minutes from Nassau's newly expanded Lynden Pindling International Airport. The resort will feature an elite collection of hotel brands with gaming, entertainment, private residences, shopping and natural attractions that reflect an authentic Bahamian experience. The Baha Mar Casino & Hotel, with 1,000 rooms, is the centerpiece of the resort, and includes a 100,000-square-foot Las Vegas-style casino – the largest in the Caribbean region. A 700-room Grand Hyatt, a 300-room Mondrian, the 200-room Rosewood Hotels & Resorts® and the 694-room Meliá complete the extraordinary accommodations at Baha Mar.

Amenities will include the 18-hole, 72-par championship Jack Nicklaus Signature Golf Course at Baha Mar, 200,000 square feet of combined state-of-the-art convention facilities including a 2,000-seat performing arts center and an art gallery with the largest curated collection of Bahamian art, more than 30 restaurants, nightclubs and bars, two spas, including the 30,000-square-foot destination spa ESPA at Baha Mar, designer retail boutiques, a beachfront sanctuary with native Bahamian flora and fauna,14 distinctive pool experiences and a private island. For more information, please visit www.bahamar.com.