Held by Sol Melia Under a Long-term Lease, Will
Be Re-branded the Hard Rock Hotel Madrid
ORLANDO, Fla - Nov. 15, 2004 -- Hard Rock International and Sol Melia
Hotels and Resorts today announced that their joint-venture company, Lifestar
Hoteles Espana S.L., will manage Europe's first Hard Rock Hotel in Madrid.
The 201-room Tryp Reina Victoria Hotel, which is held by Sol Melia under
a long-term lease, is in the heart of Madrid's old city in the western
end of the pedestrianized Plaza de Santa Ana. The hotel will undergo an
extensive refurbishment to commence immediately, following which it will
be re-branded the Hard Rock Hotel Madrid. The refurbishment will not compromise
the facade of the building, representative of Madrid's urbanism.
Overlooking the Plaza Santa Ana with its abundance of bars and restaurants, the former Tryp Reina Victoria is situated in one of Madrid's most vibrant locations, near the city's creative and media business communities. The hotel is opposite the Teatro Espanol, the oldest theatre in the city, close to the museums of El Prado, Reina Sofia and Thyssen, triangle of the arts, and a brief walk from the Plaza Mayor, Spanish Parliament, the Ministry of Foreign Affairs and the Puerta del Sol. The majestic building was built in the 20s of the last Century over the former Ariza's palace, property of the Count of Montijo.
"With world class properties throughout Madrid, Sol Melia will bring to our loyal guests and locals, the most exciting destination hotel concept that Madrid will enjoy," said Sebastian Escarrer, Vice-Chairman and CEO, Sol Melia Hotels and Resorts. "Guests will be able to enjoy a first-rate experience with the highest technological amenities in every room, including a DVD player, top-notch stereo system and high speed Internet connections. The hotel will also boast meeting rooms, Gym and Spa. The Hard Rock Hotel Madrid will be a valuable asset for the city while also serving as an ambassador for future European Hard Rock Hotels."
Keith Hobbs of London-based United Designers has been selected as the project's interior designer, whose previous credits include designing the Metropolitan Hotel London, Parrot Cay Turks and Caicos, the Clarence Hotel Dublin, Nobu Restaurant London, amongst many others. The new hotel is set to become a strong force in Madrid from a leisure, business and group standpoint, offering an international destination restaurant on the ground floor, as well as an outdoor terrace covering the roof that overlooks Madrid's skyline.
Background on the Joint Venture
Lifestar Hotels LLC, the joint venture between Hard Rock Cafe International and Sol Melia SA, provides hotel owners a unique proposition to access the Hard Rock Hotel brand through long-term management agreements.
Madrid will be the fourth Hard Rock Hotel to be part of the joint venture since its formation in 2003, the others being in Chicago, which opened in 2003, New York, scheduled to open in 2005, and San Diego which is due to open in 2006.
Background on Hard Rock
Hard Rock Cafe International, one of the most globally-recognized music, entertainment and dining brands has a network of 118 signature Hard Rock Cafes in 42 countries and owns the world's greatest collection of music memorabilia. Known for its collectible and fashion merchandise, live concerts, Hard Rock Live performance venues, hardrock.com and Hard Rock Hotels and Casinos, Hard Rock Cafe International, Inc. is a wholly-owned subsidiary of London-based The Rank Group Plc (NASDAQ: RANKY). For more information on Hard Rock, visit www.hardrock.com. In addition to the joint venture with Sol Melia, Hard Rock Cafe International also owns, operates or has licensed rights to full-service hotels in Las Vegas, Bali, Pattaya, Orlando, Tampa, Hollywood (Fla.) and Biloxi (opening 2005). For more information on Hard Rock, visit www.hardrock.com.
Background on Sol Melia Hotels and Resorts
Founded in 1956 in Palma de Majorca (Spain), Sol Melia is the largest resort hotel company in the world. Notwithstanding its resort leadership position, more than 50 percent of its hotels are in urban locations and is by far the largest hotel company in Spain, and one of the leading Europeans Hotel groups both in the city and resort hotel markets. The company's portfolio currently comprises over 350 hotels in 30 countries on four continents and provides employment to more than 36,000 people within its Melia, Tryp, Sol and Paradisus Resorts brands. For more information on Sol Melia, visit www.solmelia.com.
Hard Rock Cafe International
|Also See:||Becker Ventures Acquires Paramount Hotel for $126.5 million from Morgans Hotel Group; Hard Rock / Sol Meliá Joint Venture Will Operate as Re-branded Hard Rock Hotel New York / July 2004|
|Affiliate of Tarsadia Hotels Planning $100 million Development in San Diego’s Gaslamp Quarter, Includes a 250-room Hard Rock Hotel / December 2003|
|Sol Meliá and the Rank Group, Owner of the Hard Rock brand, to Joint Venture Development of Hard Rock Hotels in the Americas and Europe / June 2003|