Sol Melia sold the Melia Bavaro of Punta Cana to the Grupo Princess of Catalunya, Spain. Barcelona newspaper, La Vanguardia reports the Princess group US$61 million for the Punta Cana beach hotel located on the East Coast of the Dominican Republic. Earlier, it had been said that Meliá would sell the property to Best Hotels of Catalunya. Apparently, the Princess offer was better. The hotel will be known as Bavaro Princess, and will be the first of this chain’s expansion into the Americas. (10 July 2000)
