This is a new step within the expansion plan initiated by Grupo Occidental Hoteles to reinforce its internationalisation and specialisation in the sector of urban and holiday hotels. Occidental Hoteles is carrying out a series of strategic investments, specifically the construction of new complexes and the acquisition of hotels, as shown by the recent purchase of the prestigious Allegro Resorts chain. In addition to the development of its holiday branch and by means of this new alliance, Grupo Occidental Hoteles has increased its urban offer by 11 hotels, in a very important destination, Italy.

Grupo Boscolo, with headquarters in Padua and a yearly turnover close to 12,900 million Pesetas, consists of five companies operating in the tourism sector. Boscolo Hotels¸ the company entrusted with hotel exploitation, has eleven 4- and 5- star hotels, with a total of 1,085 rooms, situated in the main Italian tourist cities (Venice, Florence, Rome, Sottomarina and Lido de Chioggio-Venice) and in the most commercial towns (Vicenza, Verona, Trent and Bologna). It is the most important company in the group, accounting for 40% of its turnover. Its medium- and long-term expansion plans concentrate on its consolidation as one of Italy�s major hotel chains and in developing projects in Central and Eastern Europe.

In addition to this division, another important company is Boscolo Tours, one of Italy�s major tour operators, with offices in Vienna, London, Oslo, Tokyo, New York and Sydney. The other companies in the Boscolo Group consist of Boscolo Meetings and Incentives, dedicated to incentive and congress management; Boscolo Etoile, a recognised culinary arts institute; and Boscolo Engineering, set up to solve the technical needs of the hotel division.

The choice of the Boscolo Group by Occidental Hoteles as a strategic ally is based on the compatibility between the objectives of both companies and the dynamism of the Boscolo Group.

Since its foundation in 1982, Grupo Occidental Hoteles has grown rapidly and continually. When it has finalised the process of acquiring the Allegro chain, planned for the coming weeks, it will be the 3rd Spanish hotel chain in number of rooms, and the largest chain in the Caribbean. With the new incorporations, Occidental Hoteles will now have 88 hotels.