Meliá Hotels International

Hotels
BMAD: MEL
Spain
http://www.melia.com/

"This great hotel project was already in danger last year, following the withdrawal of the United States from  the Joint Action Plan  (JCPOA) in May and the sanctions imposed by US President Donald Trump on the Persian country in November. However, then the hotel company assured that it maintained its project normally . 

Now  Meliá confirms to Vozpópuli  that although "previously it had already suffered delays ", since its opening was scheduled for 2017, the project is currently " stopped for reasons beyond Meliá Hotels International"." (Vozpopuli, "Meliá's flagship project in Iran, paralyzed in the midst of tension with the US," 12/19/2019).

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"Meliá Hotels International has announced its entry into the Iranian market with the first five-star branded hotel to be managed by an international hotel company, the Gran Melia Ghoo Hotel, located in the largest mixed residential, commercial and hotel complex to be developed in Iran, currently being built in Salman Shahr, a popular holiday destination on the Caspian Sea. The Spanish hotel chain thus takes an important step to becoming one of the leading international hotel groups in Iran, a country which expects to see significant tourism development after the lifting of sanctions that have restricted foreign investment since 2006." (November 5, 2017)

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"A handful of mostly European hotel groups are looking to steal a march on their U.S. competitors by moving into the Iranian hospitality market while U.S. companies still face regulatory uncertainty...Abu Dhabi-based-Rotana Hotel Management Corp. PJSC, France’s Accor, Spain’s Meliá Hotels International  and Germany’s Steigenberger Hotel Group are all moving quickly in anticipation of a tourism and business boom...Meliá has a five-star property in the works on the shores of the Caspian Sea." (Reuters, "Iran Prepares for an Uptick in Tourism," 10/4/2016).

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"Global hotel companies are establishing new beachheads in Iran, betting that lifted sanctions against the Middle East nation will spark a jump in tourism and business travel after decades of economic isolation. Spanish operator Melia Hotels International is planning to open a 319-room hotel next year on the Caspian Sea. French group Accor Hotels, which opened two hotels near the Tehran airport last autumn, is establishing a joint-stock company in Iran through which it will partner with local groups to manage hotels. Abu Dhabi-based Rotana Hotel Management Corp. PJSC has started developing properties in the country as well... 'We just have to wait. That's the frustrating bit,' said Peter Norman, senior vice president for acquisitions and development at Hyatt in Europe, the Mideast and Africa. 'We're really keen to go in there,' he said. Hyatt and Germany-based Kempinski Hotels have been exploring opportunities but said for the moment barriers remain too high." (The Wall Street Journal, “Next Big Travel Destination: Iran?,” 5/17/2016)