Melia Hotels International, First Hotel Company In Spain To Sign Up To Sustainable Financing
- The company links 50% of its financing to its performance in sustainability and closes two ESG-linked credit facilities with BBVA and Santander for a combined amount of 125 million euros
- The company's performance in sustainability is based on the Corporate Sustainability Assessment made by RobecoSAM
The interest rate for the new credit facilities is linked to Environmental, Social & Governance (ESG) criteria that define the commitments and performance of companies in terms of social and environmental sustainability, ethics and corporate governance.
For Gabriel Escarrer, Executive Vice President and CEO of Meliá Hotels International, "as the third most sustainable hotel in the world according to RobecoSAM, the agency responsible for evaluating companies for the Dow Jones Sustainability Index, our sustainability standards are extremely high. These new financing agreements represent a new challenge for us and a stimulus for constant improvement. The beauty of the deal lies in the fact that the benefits not only affect the companies involved, but also intend to extend those benefits to society as a whole".
Fernando Cejudo, Corporate Relationship Manager at BBVA, stated, "as world leaders in sustainable financing, BBVA is delighted to continue to accompany Meliá Hotels International in its sustainability strategy. This operation is definitely a milestone for the Spanish hotel industry."
For Gabriel Alonso, Director of Corporate & Investment Banking at Santander Spain, "this operation shows our commitment to Meliá, one of our most important clients, and to sustainable finance, an area that we have been committed to for many years and that fits perfectly with our mission of contributing to the progress of people and companies in the most responsible way."
About Melia Hotels International
Founded in 1956 in Palma de Mallorca (Spain), Meliá Hotels International is one of the largest hotel companies worldwide as well as the absolute leader within the Spanish market, with more than 370 hotels (current portfolio and pipeline) throughout more than 40 countries and 4 continents under the brands: Gran Meliá, Meliá Hotels & Resorts, Paradisus Resorts, ME by Meliá, INNSIDE by Meliá, Tryp by Wyndham and Sol Hoteles. The strategic focus on international growth has allowed Meliá Hotels International to be the first Spanish hotel company with presence in key markets such as China, the Arabian Gulf or the US, as well as maintaining its leadership in traditional markets such as Europe, Latin America or the Caribbean. Its high degree of globalization, a diversified business model, the consistent growth plan supported by strategic alliances with major investors and its commitment to responsible tourism are the major strengths of Meliá Hotels International, being the Spanish Hotel leader in Corporate Reputation (Merco Ranking) and one of the most attractive to work worldwide.