Occidental Hotels and Resorts

Occidental Hotels & Resorts, began its operation in 1982. With a capital of one million pesetas a small group of directors with a vision created something new. At that time, Occidental Hotels managed hotels in Spain, Portugal, the Dominican Republic and Puerto Rico.

Growth: From 1984 to 1995, the Company progressively expanded with the addition of new hotels in Spain and international destinations such as the Caribbean, Europe and North Africa.

Consolidation: From 1996 to 1998 new shareholders were incorporated. Upon the recognition that it offered significant growth potential, most important banking and financial organizations vied for control of our company. This period of consolidation provided us with a firm ground to launch both new projects and an initial public offering. In 1999, a tremendous opportunity allowed us to take a major step in our expansion plan, namely the purchase of the Allegro Resorts chain. This merger was finalized on September 7th, 2000, providing an expansion of our evolving company into Mexico and other parts of the Caribbean.

Occidental Hotels & Resorts today: Today, Occidental Hotels & Resorts is a Spanish chain with a well-defined strategy and an intensive growth plan. It has been considered one of the most important hotel chains, not only in Spain, but internationally as well.

Future growth plans call for the construction of two new properties in Mexico & Cuba.

Occidental’s principal partner is the largest private bank in Spain, Banco Bilbao Vizcaya Argentaria (BBVA). Approximately one third of the company is owned by Senior Management. This ownership position assures a healthy and responsible management style that views the long-term satisfaction of its customers as its first priority.

www.occidentalhotels.com