12 Investments 12.1 Loans to subsidiaries (Thousands of pesetas) 1999 2<strong>00</strong>0 ARE<strong>SOL</strong> CABOS, S.A. de C.V. 1,234,672 1,355,384 CARIBOTELS DE MEXICO S.A. de C.V. 1,554,981 CORPORACION HOTELERA METOR 469,369 116,034 DETUR PANAMÁ 435,217 F.S.P.TURIZM 1,364,270 MOGAN PROMOCIONES 376,525 391,959 MELIÁ MÉRIDA S.L. 130,<strong>00</strong>0 TOTAL 4,999,817 2,428,594 The balance of Ptas. 1,355 million of Aresol Cabos S.A de C.V. relates to a loan granted by Operadora Mesol, S.A. de C.V. The loan to F.S.P. Turizm has been cancelled during the year. S OL M ELIÁ A NNUAL R EPORT 2<strong>00</strong>0 108
INVESTMENTS 12.2 Long-term securities portfolio The participations by holding company, in thousands of pesetas, are listed below: (Thousands of pesetas) INVESTMENTS PARTIC. % BALANCE BALANCE ADDITIONS DISPOSALS CONVERSION BALANCE 31/12/98 31/12/99 DIF. 31/12/<strong>00</strong> <strong>SOL</strong> MELIÁ S.A. 22,158,564 14,163,907 9,155,067 Azafata S.A. 8.70% 45,<strong>00</strong>0 45,<strong>00</strong>0 (45,<strong>00</strong>0) D.H. Guanacaste 15.<strong>00</strong>% 1,675,<strong>00</strong>0 1,962,764 140,184 2,102,948 D.I.Guanacaste 15.<strong>00</strong>% 132,<strong>00</strong>0 132,<strong>00</strong>0 132,<strong>00</strong>0 Edificaciones Gobelas, S.A. 20.<strong>00</strong>% 255,387 Grupo Inmotel Inversiones 18.85% 16,643,<strong>00</strong>0 Detur Panamá S.A. 31.78% 733,089 (733,089) H. Sancti Petri 19.50% 195,<strong>00</strong>0 195,<strong>00</strong>0 195,<strong>00</strong>0 Horotel S.A. 12.40% 50,<strong>00</strong>0 50,<strong>00</strong>0 50,<strong>00</strong>0 Hotel Net B2B.com S.A. 24.50% 518,519 518,519 I.H. Los Cabos 15.<strong>00</strong>% 550,<strong>00</strong>0 550,<strong>00</strong>0 550,<strong>00</strong>0 I.H. Playa del Duque 5.<strong>00</strong>% 446,282 446,282 446,282 Inmobiliaria Conchal Pacífico 15.<strong>00</strong>% 46,<strong>00</strong>0 46,<strong>00</strong>0 46,<strong>00</strong>0 Lanzarote 6 S.A. 5.56% 249,912 249,912 Orgesa Holding 14.17% 1,195 1,195 1,195 P.T. Surlaya Internacional 16.52% 1,5<strong>00</strong>,<strong>00</strong>0 1,5<strong>00</strong>,<strong>00</strong>0 1,5<strong>00</strong>,<strong>00</strong>0 Port Cambrils Inv. 15.<strong>00</strong>% 48,760 48,760 Prodigios Interactivos S.A. 12.84% 3,506,313 (376,604) 3,129,709 Propiedades en Arriendo. S.l. 1<strong>00</strong>.<strong>00</strong>% 2<strong>00</strong> 2<strong>00</strong> (2<strong>00</strong>) Sol Meliá France S.A. 1<strong>00</strong>.<strong>00</strong>% 8,286,124 (8,286,124) Sol Meliá Suisse S.A. 1<strong>00</strong>.<strong>00</strong>% 5,242 5,242 Turismo de Invierno S.A. 19.47% 179,5<strong>00</strong> 179,5<strong>00</strong> 179,5<strong>00</strong> Tuoroperador Viva Tours, S.A. 21.98% 440,<strong>00</strong>0 Varios u/p 31,511 (31,511) INEXTUR S.A. 391 391 Oblig. Club Marítimo Marbella u/p 391 391 APARTOTEL S.A. 70,885 70,885 Plaza Puerta del Mar S.A. 7.10% 70,885 70,885 CASINO TAMARINDOS S.A. 50,407 50,107 Obligaciones del Gobierno de Canarias u/p 50,107 50,107 Propiedades en Arriendo 3<strong>00</strong> (3<strong>00</strong>) PARQUE SAN ANTONIO S.A. 5<strong>00</strong> 5<strong>00</strong> Aguas Teide u/p 5<strong>00</strong> 5<strong>00</strong> TRYP, S.A. 9,129 Gupe Inmobiliaria 99.99% 9,129 9,129 RANDLESTOP CORP, N.V. 994 1,060 Punta Cana Reservations N.V. 1<strong>00</strong>.<strong>00</strong>% 994 66 1,060 S OL M ELIÁ A NNUAL R EPORT 2<strong>00</strong>0 109
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