SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP SOL MELIA ANNUAL REPORT 00 COMP
COMPANY HISTORY Just six months later, the US agency Standard & Poor’s granted a credit rating of BBB+, rating Sol Meliá as the most solvent hotel company in Europe and allowing much greater capacity to obtain financing on capital markets. Time for integration: the new Sol Meliá 1998-1999.- A strategic decision is made to reintegrate the hotel management and property businesses, to further strengthen company growth and initiate the company’s technological transformation. The integration ended in 1999 with the take-over of Meliá Inversiones Americanas (MIA) and the merger with Inmotel Inversiones. The new Sol Meliá became the 12th. largest hotel group in the world with more than 260 hotels in 27 countries and a market capitalisation of 382,646 million pesetas (2.300 million euros). After the creation of the new Sol Meliá, another of the Chairman’s sons, Gabriel Escarrer Jaume, joined the company as Chief Executive Officer. He had held the same position with Inmotel Inversiones, a period during which he brought about an important modernisation and adaptation of the company to prepare for merger with Sol Meliá, while also initiating an ambitious and highly successful plan for renovation of the hotel portfolio. 1999.- In 1999, the company added 27 hotels and purchased 34, further reinforcing and developing its presence in its three key natural markets: Latin America, the Mediterranean and major European cities. The investment made in purchases reached 100,623 million pesetas (605 million euros). Thanks to these investments, the company established a presence in Europe’s foremost capital cities and business and leisure tourism destinations: Rome, Paris and London. S OL M ELIÁ A NNUAL R EPORT 2000 16
COMPANY HISTORY Adapting to a new age: E-Transformation The natural evolution of the market led to Sol Meliá creating a new E-Business Division, headed by Luis del Olmo, Executive Vice President of Sales & Marketing. The Division is charged with adapting all of the company’s purchasing and sales activities, as well as its internal management, to the new technological environment, creating a true “solmelia.com” on the Inside, the Sell Side and the Buy Side. Tryp Hotels, the latest major deal On 21st August, 2000, Sol Meliá sealed its purchase of Tryp Hoteles. With the incorporation of the 60 hotels of the company led by Antonio Briones, Sol Meliá has consolidated its leadership position in both the business and leisure hotel markets in Spain, Latin America and the Caribbean, and its ranking as number 2 in Europe. At the same time, Sol Meliá has achieved a place in the Top Ten hotel companies in the world by number of rooms and has become the undisputed leader of the Spanish city hotel market. Sol Meliá currently operates more than 330 hotels in 30 countries on 4 continents with a team of over 33,000 employees. Meliá Colón S OL M ELIÁ A NNUAL R EPORT 2000 17
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<strong>COMP</strong>ANY HISTORY<br />
Adapting to a new age:<br />
E-Transformation<br />
The natural evolution of the market led to Sol Meliá creating a new<br />
E-Business Division, headed by Luis del Olmo, Executive Vice<br />
President of Sales & Marketing. The Division is charged with adapting<br />
all of the company’s purchasing and sales activities, as well as its internal<br />
management, to the new technological environment, creating a true<br />
“solmelia.com” on the Inside, the Sell Side and the Buy Side.<br />
Tryp Hotels, the latest major deal<br />
On 21st August, 2<strong>00</strong>0, Sol Meliá sealed its purchase of Tryp Hoteles.<br />
With the incorporation of the 60 hotels of the company led by Antonio<br />
Briones, Sol Meliá has consolidated its leadership position in both the<br />
business and leisure hotel markets in Spain, Latin America and the<br />
Caribbean, and its ranking as number 2 in Europe. At the same time, Sol<br />
Meliá has achieved a place in the Top Ten hotel companies in the world<br />
by number of rooms and has become the undisputed leader of the<br />
Spanish city hotel market.<br />
Sol Meliá currently operates more than 330 hotels in 30 countries on<br />
4 continents with a team of over 33,<strong>00</strong>0 employees.<br />
Meliá Colón<br />
S OL<br />
M ELIÁ<br />
A NNUAL R EPORT 2<strong>00</strong>0<br />
17
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