Sol Meliá hotel chain recorded in the financial year 2010 attributable profit of 50.1 million euros, representing an improvement of 31.4% over the previous year, when he won 38.1 million the company said in a statement released a National Commission Securities Market (CNMV).
The group's operating profit reached 141 million euros, representing an improvement of 34.9%, while profit before tax came to 63.9 million, 18.5 % more. The turnover of the hotel chain Balearic reached 1,250 million euros, representing an improvement of 8.8% over the previous year.
The chain emphasizes the positive development of the hotel business during the fourth quarter, an increase of 13% of the revenue per available room (RevPAR) and significant improvement in EBITDA. According Melia, these figures confirm the trend of the whole exercise, highlighting the growth of European capitals and the Canary Islands.
During the whole year, the company recorded an increase in average revenue per room of 8.9%. This, combined with the intense cost optimization program developed in 2009 explained the positive development of the Sol Meliá hotel EBITDA, which increased by 15.9%.
investments include 2010, the group said it would continue with strategy of valuing its hotel brands, with 27 hotels in the process of incorporation for the next 3 years, mostly under formulas such as management contracts.
geographical markets, Sol Melia says that prioritizes the expansion in those areas where it has competitive advantages, aware of the "boom" of Latin America and Europe will continue, despite its lower relative growth, the main tourist destination in the world. Also, the chain stresses its commitment to grow in the Asian and American markets, the Middle East or exotic holiday destinations like Sal Island, Cape Verde.
Looking to 2011, the company expects an increase in RevPAR of mid to high single digits, "consolidating the positive trend in volume and price improvement, with the slowdown in new hotel planned in key markets." Among the projects, Sol Melia noted that it is developing two five star resorts and 906 rooms in Playa del Carmen (Mexico). The complex will be developed in an area of \u200b\u200b290,000 meters and the planned investment will amount to $ 83 million.
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