Balearic companies compete to run conference hall

MALLORCA-BASED companies Melia International Hotels and Baracelo Group are currently bidding to rent the future conference hall of Palma and its annexed hotel.

The two hotel multinationals have made the same proposal to the council, meaning that both are still in the running to take on the contract to provide services for the hall, which is currently under construction.

The initial bid established by the council was €1.3 million per year, and five per cent of the total revenue generated by both facilities. In addition, every five years there would be a two per cent penalty if the company did not buy the building. After that, the penalty would increase to 10 per cent.

The financial and technical conditions proposed by both companies will be analysed by a panel of experts, who will then report on which one they think is the best proposal.

The final decision will be taken by the management of the conference hall.