SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP SOL MELIA ANNUAL REPORT 00 COMP
COMPANY HISTORY Meliá De Mar Meliá De Mar 1985.- The company began its international expansion with its first hotel outside Spain: the Bali Sol. The business instincts of Gabriel Escarrer once again led to commercial success as the company became the first international chain to build a hotel in the then-unknown destination of Bali. It seemed like a very risky bet. Nowadays all of the major world hotel companies are there, but only one can proudly claim to be a pioneer. 1986.- Continuing with a policy of growth through acquisition, Hoteles Sol took over Compañía Hotelera del Mediterráneo, including 11 hotels partly owned by the airline British Caledonian. ...and then there was Meliá 1987.- 27th. June, 1987 was the date for another milestone in company history. Owned by the Luxembourg-based company Interport,with Giancarlo Parretti at its head, the 22 Meliá hotels were the object of desire of major international hotel groups including Sheraton, Wagon- Lits or Hilton. Arduous negotiations finally led to Gabriel Escarrer becoming the new Chairman of Hoteles Meliá. Growth continued in mainland Europe, the Americas, the Caribbean, South-east Asia and the Mediterranean. Globalisation and diversification became the watchwords of the times. S OL M ELIÁ A NNUAL R EPORT 2000 14
COMPANY HISTORY New management 1993.- The incorporation of Sebastián Escarrer brought new ways to the company as he began a revolution in Sol Meliá business strategy and implemented the organisational structure that is in place today. Meliá Bali To favour continued growth, the management team was reinforced and changes were made in management procedures and systems (information technology, accounts, quality control, bonus systems, financial management, added values for the 5 types of clients, etc...). Faithful to its origins, the company also adopted a management style aimed at encouraging an entrepreneurial and team spirit, with fluid lines of communication and a greater focus on the market and the customer. That same year the company was named as the recipient of the Príncipe (Prince) Felipe Award for excellence in tourism for its management, growth and contribution to the industry. Meliá Castilla Going public 1996.- Once the new organisation and management systems were consolidated, on 2nd. June, 1996, Sol Meliá became the first hotel management company in Europe to be floated on the stock exchange. Prior to the flotation the company had been split into two new entities: Inmotel. SA., the owner of hotels and the new Sol Meliá S.A., a hotel management company and target of the flotation. On 30th. December 1996, the value of the company’s shares had increased by 72.2% and had been incorporated into the IBEX 35 index along with all other major Spanish public companies. S OL M ELIÁ A NNUAL R EPORT 2000 15
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<strong>COMP</strong>ANY HISTORY<br />
New management<br />
1993.- The incorporation of Sebastián Escarrer brought new ways to<br />
the company as he began a revolution in Sol Meliá business strategy and<br />
implemented the organisational structure that is in place today.<br />
Meliá Bali<br />
To favour continued growth, the management team was reinforced and<br />
changes were made in management procedures and systems (information<br />
technology, accounts, quality control, bonus systems, financial<br />
management, added values for the 5 types of clients, etc...). Faithful to<br />
its origins, the company also adopted a management style aimed at<br />
encouraging an entrepreneurial and team spirit, with fluid lines of communication<br />
and a greater focus on the market and the customer.<br />
That same year the company was named as the recipient of the Príncipe<br />
(Prince) Felipe Award for excellence in tourism for its management,<br />
growth and contribution to the industry.<br />
Meliá Castilla<br />
Going public<br />
1996.- Once the new organisation and management systems were<br />
consolidated, on 2nd. June, 1996, Sol Meliá became the first hotel<br />
management company in Europe to be floated on the stock exchange.<br />
Prior to the flotation the company had been split into two new entities:<br />
Inmotel. SA., the owner of hotels and the new Sol Meliá S.A., a hotel<br />
management company and target of the flotation.<br />
On 30th. December 1996, the value of the company’s shares had increased<br />
by 72.2% and had been incorporated into the IBEX 35 index along<br />
with all other major Spanish public companies.<br />
S OL<br />
M ELIÁ<br />
A NNUAL R EPORT 2<strong>00</strong>0<br />
15
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