The hotel company Sol Meliá reported today that it has sold the Sol Pelícanos Ocas Hotel in Benidorm, Alicante for 73.75 million euros, generating capital gains of 55.6 million euros for the hotel chain.

Sol Meliá will continue to manage the hotel under a 10-year lease agreement and will also retain a preferential purchase option on the hotel.

The Sol Pelícanos Ocas Hotel is a 3 star resort hotel located on Benidorm beach with almost 800 rooms focused on the family vacation market and providing a “Flintstones” theme exclusive to Sol Meliá.

Similar to previous operations, the sale allows Sol Meliá to continue to make progress in improvements to its portfolio and enhance its brand equity, adding new products and growth based on management, franchise and lease agreements. Of the 7,177 hotel rooms already signed to be added in the future, 80% will be added under management, 4% under franchises, and 16% under lease agreements .