SOL MELIA ANNUAL REPORT 00 COMP

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GOOD GOVERNANCE CODE 20 Financial information “That all of the regular financial information as web as the annual information offered to the markets is generated using the same professional principles and practises as the annual accounts and that, before being published, are verified by the Audit Commission”. Amongst their duties, the Board of Directors, along with the Audit and Compliance Commission are entrusted with the duty of providing financial information to the markets following the same professional principles, criteria and practises as those employed in the production of the annual accounts. Financial analysts have also been kept informed through conference calls on quarterly results after their presentation and registration with the CNMV. 21 External Auditors “That the Board of Directors and the Audit Commission supervise situations that may present a risk to the independence of the company’s external auditors and, specifically, that they verify the amounts paid to external auditors as a percentage of the total revenues of the auditing firm, and that they make public information on fees paid for services other than audits”. The Board of Directors and Audit and Compliance Commission have made an analysis of the possible risks regarding the independence of external auditors. That total amount paid to the external auditor Ernst & Young reached 105,761,085 pesetas for auditing and consulting services. This amount is equivalent to 0.7 % of the total revenues of the firm in Spain. In addition, the company has paid out a total of 11,800,000 Pesetas to Arthur Andersen and 370,019 Pesetas to KPMG in consultancy fees. 22 Production of the Annual Accounts. “That the Board of Directors should avoid presenting accounts to the General Shareholders’ Meeting that contain exceptions and reservations in the auditors’ report, and that, whenever this is not possible, both the Board of directors and the auditors must clearly explain to shareholders and to the market the content and scope of the discrepancies”. S OL M ELIÁ A NNUAL R EPORT 2000 66
GOOD GOVERNANCE CODE This recommendation is included in article 39 of the Regulations of the Board, and it is being accomplished by the Company. 23 Information on Governance rules. “That the Board of Directors include in their Annual Report information on their Governance rules, providing explanations for any that do not comply with the recommendations contained within this Code”. This report aims to clearly and precisely reflect the degree to which the recommendations of the Code of Good Governance has been implemented in the company, and particularly in regard to the obligations, duties and procedures followed by the Sol Meliá, S.A. Board of Directors so as to comply with said recommendations. S OL M ELIÁ A NNUAL R EPORT 2000 67
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ANNUAL REPORT 2000 www.solmelia.com
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ANNUAL REPORT 2000
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COMPANY PROFILE CURRENT SOL MELIÁ
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COMPANY PROFILE FINANCIAL PROFILE
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LETTER FROM THE CHAIRMAN dDear shar
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LETTER FROM THE CHAIRMAN And it is
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COMPANY HISTORY Meliá De Mar Meli
Page 18 and 19: COMPANY HISTORY Just six months lat
Page 21: ORGANISATIONAL STRUCTURE CHAIRMAN G
Page 25 and 26: MILESTONES 2000· FINANCIAL RESULTS
Page 27 and 28: MILESTONES 2000· FINANCIAL RESULTS
Page 30 and 31: MILESTONES 2000· HOTEL GROWTH Year
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Page 34 and 35: MILESTONES 2000· HOTEL GROWTH In S
Page 37 and 38: MILESTONES 2000 · RESEARCH & DEVEL
Page 40: MILESTONES 2000 · EVERYTHING IS PO
Page 43 and 44: MILESTONES 2000 · QUALITY & ENVIRO
Page 46 and 47: MILESTONES 2000 · COMPANY AND SOCI
Page 49: SOL MELIÁ IN THE 21 ST. CENTURY Lo
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Page 56: SOL MELIÁ IN THE 21ST. CENTURY ·
Page 59 and 60: GOOD GOVERNANCE CODE The Board of D
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Page 63 and 64: GOOD GOVERNANCE CODE 11 Selection a
Page 65 and 66: GOOD GOVERNANCE CODE fees or other
Page 67: GOOD GOVERNANCE CODE Amongst the nu
Page 72: OFFICIAL COMMUNIQUÉS 25th. July Wi
Page 77 and 78: CONSOLIDATED LIABILITIES In thousan
Page 79 and 80: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 81 and 82: 2 Consolidation Scope 2.1 Subsidiar
Page 83 and 84: CONSOLIDATION SCOPE COMPANY ADDRESS
Page 85 and 86: CONSOLIDATION SCOPE 2.3 Companies e
Page 87 and 88: CONSOLIDATION SCOPE ADDITIONS INCRE
Page 89 and 90: 4 Appropriation of Results The Boar
Page 91 and 92: ACCOUNTING PRINCIPLES Credits and d
Page 93 and 94: ACCOUNTING PRINCIPLES 5.9 Investmen
Page 95 and 96: ACCOUNTING PRINCIPLES 5.20 Corporat
Page 97 and 98: 6 Goodwill on Consolidation Goodwil
Page 99 and 100: GOODWILL ON CONSOLIDATION 6.2 Compa
Page 101 and 102: 8 Participations by the Equity Meth
Page 103 and 104: 10 Intangible Fixed Assets The brea
Page 105 and 106: 11 Tangible Fixed Assets The moveme
Page 107 and 108: TANGIBLE FIXED ASSETS The net capit
Page 109 and 110: INVESTMENTS 12.2 Long-term securiti
Page 111 and 112: INVESTMENTS Disposals for the year
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Page 115 and 116: 13 Deferred Expenses (Thousands of
Page 117 and 118: 15 Debtors The breakdown of the sho
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18 Equity The breakdown and movemen
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EQUITY The breakdown of the balance
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EQUITY (Thousands of pesetas) BALAN
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EQUITY The balances of the above ta
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19 Minority Interest Some consolida
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21 Provisions for Liabilities and C
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NON-TRADE DEBTS On December 7, 2000
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NON-TRADE DEBTS (Thousands of peset
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NON-TRADE DEBTS As indicated in Not
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23 Fiscal Situation 23.1 Taxable in
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FISCAL SITUATION As a result of the
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FISCAL SITUATION 2000 Consolidated
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GUARANTEES, COMMITMENTS AND CONTING
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INCOME AND EXPENSES 25.3 Consolidat
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INCOME AND EXPENSES (Thousands of p
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26 Retribution and other Benefits t
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This report analyses trends in the
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BUSINESS TRENDS Statistics for the
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3 Post-balance Sheet Events. On Feb
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5 Research and Development Sol Meli
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SOL MELIA ANNUAL REPORT 00 COMP

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