Sol Meliá´s Hotels Faring Well in the Caribbean

godking
03 July 2004 6:00am

Spanish hotel chain Sol Meliá pointed out this week that the evolution of its lodgings in the Caribbean Basin made a significant contribution to the company´s good outcomes in the first quarter of the ongoing year.

In terms of operations worldwide, the Spain-based megabuck firm raked in €10 million worth of revenues by the end of the year´s first quarter, up 0.1 percent from the first three months of 2003.

In addition, the chain´s sales shot up a whopping 200 percent compared to the first quarter of last year.

According to Sol Meliá´s execs, the group´s profits climbed 9.3 percent to €219.6 million from January to March, even amid the March 11 terrorist attacks in Madrid, an occurrence that was expected to bring far grimmer ripple effects in the leisure industry.

As far as Cuba is concerned, Sol Meliá´s gains were way over €200 million all through 2003, a 27 percent spike from 2002.

The Spanish giant is planning to pour more than $51 million into Cayo Largo for the construction of a fancy tourist resort there.

The all-inclusive Paradisus Cayo Largo will include the building of several oases, a main lodging facility hedged with a huge swimming pool, and rooms of nearly a hundred square yards each.

In all, Sol Meliá owns more than 350 hotels in 30 nations under the Meliá Hotels, Tryp Hotels, Sol Hotels and Paradisus Resorts trademarks.

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