Throughout 2008, Sol Meliá generated 6 Bracos, compared to the 129.5 million euros million euros of revenues and 3.8 million generated in 2007 (43.1 million profit).
| ACTIVO | ROOMS |
PRICE |
EV/EBITDA |
(x) PROFIT |
||||
|---|---|---|---|---|---|---|---|---|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
|
| Tryp Los Bracos (Logroño, Spain) 4Q08 | 71 |
- | 6 | - | 16,7 | - | 3,8 | - |
| Tryp Hidalgo (Ciudad Real, Spain) 2Q07 | - |
54 | - | 2,3 | - | 40,0 | - | 1,7 |
| Commercial property (Mallorca, Spain) 2Q07 | - |
- | - | 0,9 | - | - | - | 0,9 |
| Land in the Dominican Republic 2Q07 | - |
- | - | 8,8 | - | - | - | 3,8 |
| 15,0% Paradisus Playa Conchal (Costa Rica) (*)2Q07 | - |
406 | - | 23,4 | - | - | - | 5,7 |
| 17,4% Paramount NY (New York, USA) (*)2Q07 | 567 | - | 25,1 | 5,1 | ||||
| Other assets 3Q07 | - |
- | - | 15,5 | - | - | - | 5,8 |
| Meliá Cáceres, Mérida & Trujillo (Extremadura, Spain) 4Q07 | - |
269 | - | 30,0 | - | - | - | 9,7 |
| Tryp Paris Boulogne (Paris, France) 4Q07 | - |
75 | - | 12,5 | - | - | - | 5,0 |
| Meliá Avenue Louise Boutique Hotel (Brussels, Belgium) 4Q07 | - |
80 | - | 11,0 | - | - | - | 5,3 |
| TOTAL | 71 | 1,451 | 6 | 129,5 | 16,7 | 18,2 | 3,8 | 43,1 |
The total sales of land at Desarrollos Sol in the Dominican Republic also decreased by 41.9% to 6.2 million euros due to the decrease in the land available for sale in the Dominican Republic.
During 2008, Sol Meliá made investments in fixed assets and real estate including: 39.0 million euros in the construction of 196 Vacation Club units in the Paradisus Palma Real (Dominican Republic), 11.6 million euros in finalising the construction of 192 Vacation Club units in the Paradisus Punta Cana, 15.0 million in the acquisition of a 40% share in “Altavista Hotelera S.A “ owner of the Hotel ME Barcelona, and 14.4 million on adding 60 rooms to the Hotel Meliá Sol y Nieve.
In 2008, the total sales of Sol Meliá Vacation Club (including both Vacation Club sales and also financial revenues, maintenance and management fees and Network Fees, amongst others) decreased by 10.9% (-11.9 Mn Euros; -4.7% excluding the exchange rate effect). Vacation Club sales (number of weeks x price per week) decreased by 9.6% (-3.3% excluding the exchange rate effect).
Net Financial Income increased by 10.9% in Euros (16.7% in dollars), due to the increase in the financing of Sol Meliá Vacation Club quotas as well as the reduction in the cost of bank transactions.
| NUMBER OF WEEKS SOLD | NUMBER OF EQUIVALENT UNITS | AVERAGE RATE | VACATION CLUB SALES (IN ´000 €) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2008 | %o/07 | 2007 | 2008 | %o/07 | 2007 | 2008 | %o/07 | 2007 | 2008 | %o/07 | 2007 | |
| PREMIUN | 2.269 | -18,7% | 2.791 | 44 | -18,7% | 54 | 19.399 | 11,2% | 17.444 | 44.006 | -9,6% | 48.678 |
| MELIÁ | 1.251 | -16,7% | 1.501 | 24 | -16,6% | 29 | 12.532 | 8,4% | 11.559 | 15.672 | -9,7% | 17.350 |
| TOTAL | 3.519 | -18,0% | 4.292 | 68 | -18,0% | 83 | 16.959 | 10,2% | 15.386 | 59.678 | -9,6% | 66.028 |
Sol Meliá Hotels & Resorts is the world's largest resort hotel company and the largest hotel chain in Spain in both resort and city hotels. Sol Meliá is third in the European ranking and the twelfth largest hotel chain in the world. As well as being the resort chain in the world it is also the largest hotel company in Iberoamerica and the Caribbean. The company currently operates more than 300 hotels in 30 countries on 4 continents. Sol Meliá includes Melia, Tryp Hotels, Sol Hotels, Gran Melia, Innside, Paradisus Resorts and Me by Melia.