Gaalata reached an agreement in principle to acquire a 50% stake in Meliá Puerto Vallarta from Meliá Hotels International, S.A. (BME:MEL) for $30 million on January 22, 2024. The consideration consists of $30 million in cash. Meliá Hotels International's main objective is to reduce its debt and To do this Meliá Hotels is focused on asset rotation.

The operation is pending the approval of the regulatory bodies.