This arrangement comes from a strategic alliance between BlueBay Hotels and W2M. Jamal Satli Iglesias, president of the BlueBay Hotels Group, says: "This strategic alliance between the two groups is a joint commitment to long-term development that will result in an increase in the results of both companies in the three countries in which we will develop it."
He adds: "Signing an agreement with a person like Miguel Fluxà (the Iberostar president), a benchmark in the world hotel industry and a personal reference for me, is to my greatest satisfaction."
Two other BlueBay hotels in Mallorca are included in the deal - Bellevue Vistanova in Palmanova and Bellevue Belsana in Portocolom. The other hotels are in Gran Canaria, Lanzarote, the Dominican Republic and Mexico.
W2M's objective is to offer an optimal holiday product at an affordable price for all markets and segments in line with the strategy of promoting a vertically integrated distribution and travel group.
The agreement will come into force on January 1, 2024 and is for fifteen years.
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“W2M's objective is to offer an optimal holiday product at an affordable price for all markets and segments in line with the strategy of promoting a vertically integrated distribution and travel group.” Eh? Does that mean they’re trying to screw even more out of their business?