SOL MELIA ANNUAL REPORT 00 COMP

15 Debtors
The breakdown of the short-term debts with subsidiaries is presented in Note 22.
The other increments in the debtors heading are due to the business growth and to the new acquisitions of the Group as
well as to the sales of buildings carried out by the Company.
16 Short-term Investments
The increase in the short-term securities portfolio mainly relates to the transfer of the participation in Detur Panamá, S.A.
as explained in Note 2.2., and to financial investments from the Sol Meliá Group companies in France.
The reduction of loans to subsidiaries relates to the cancellation of the loan from Sol Meliá, S.A. to Sol Meliá France,
S.A.S., since the latter is consolidated in 2000 by full consolidation method (See Note 2.3).
The movement of the other loans balance shows an increase due to the short-term deposit of US-$ 5 million of Melia
International Hotels, S.A. in the B.B.V.A.
Sol Meliá, S.A. has deposited Ptas. 1,400 million in Bankinter to guarantee a loan to Mirador del Duque S.L. for the construction
of a hotel in Tenerife. This deposit earns 3.03% interest.
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