A consortium of Spanish hotel chain Sol Melia, bank Grupo Caja Mediterraneo-CAM and two other investors has acquired hotel company Altavista Hotelera for EUR 103mln. Under the agreement, Sol Melia and Grupo Caja Mediterraneo are buying a 40% stake each, while investors Invernostra and Grupo de Negocios Duero will hold a 20% interest in Altavista. Altavista Hotelera owns the Hotel Sky development, a 259-room site in Barcelona. In a statement to the Spanish stock market regulator, Sol Melia said that it plans to manage the hotel, which will be rebranded Me Barcelona. The hotel is expected to be completed in the third quarter of 2008.