LATEST MOVE FOR SOL MELIÁ'S VETERAN HOTELIER

Ricardo Castaneda Appointed Asia Pacific Vice-President Operations Singapore

Miguel Payeras, Executive Vice-President Sol Meliá Asia Pacific today announced the appointment of Ricardo Castaneda as Vice-President Operations Sol Meliá Asia Pacific with immediate effect.

In addition to retaining his portfolio as the General Manager of Sol Meliá's Asian flagship property, Ricardo Castaneda's key responsibilities will be to assist Mr Payeras in managing the operations for the Group's 11 regional, busines development and opening of new hotels in Asia Pacific.

Instrumental in Spanish hotel chain Sol Meliá's expansion programme throughout Asia over the last 15 years, veteran hotelier Ricardo Castaneda's latest move in the region is the natural progression of his history with the Group, having been personally responsible for a number of significant milestones in the chain's 15 year history in Asia.

Since his first Asian posting was back in 1986, for the opening Sol Meliá's first property in Asia, Meliá Bali, among Mr. Castaneda's many achievements was the acquisition of the group's second property in Asia, Meliá at Scotts in 1989, which he consequently went on to manage as General Manager.

During that time he was also involved in the successful negotiations for the take over of another existing property which was to become the group's third Asian property, the Meliá Kuala Lumpur.

His key role in the establishment of the chain's first three hotels in Asia, led to his regional appointment as Vice President Sales & Marketing with the responsibility of setting up the group's regional office in Singapore. This was a position he held till his move to the management of yet another new property, Meliá Hua Hin in Thailand where he was General Manager till his appointment to the helm of the group's new flagship property, the 428 room Gran Meliá Jakarta.

Commenting on Mr Castaneda's move to Gran Meliá Jakarta, Sol Meliá's Executive Vice President Asia Pacific, Miguel Payeras said: "Mr Castaneda's valuable Asian experience together with his significant contribution to the group's expansion in the region, made him the obvious choice when it came to selecting a regional Vice President Operations for Sol Meliá. Sol Meliá is poised to continue our expansion programme in Asia-Pacific."

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Sol Meliá, Europe's leading hotel group and the ninth largest hotel company in the world, has a portfolio of more than 330 city and resort hotels in 30 countries under the brand names of Meliá, Sol and Paradisus hotels. The newest additions to the Group include 10 new properties in Paris, the Meliá Roma Aurelia (in Rome), Meliá Mexico Reforma (in Mexico DF) and Meliá White House (in London). Its properties in Asia include Gran Meliá Jakarta, Meliá Bali (incorporating The Garden Villas), Meliá Benoa (Bali), Sol Lovina (Bali), Meliá Purosani (Yogyakarta), Meliá Panorama (Batam), and Sol Elite Marbella (Anyer) in Indonesia; Meliá Hanoi in Vietnam; Meliá Kuala Lumpur in Malaysia; Meliá Hua Hin and Sol Twin Towers (Bangkok) in Thailand. Sol Meliá has signed contracts to take-over and manage a further 80 hotels by the year 2002.