Sol Meliá Timeshare Post 124 Percent First Quarter Gains
Monday, May 17, 2010
Orlando, Florida-based Sol Meliá Vacation Club offers beautiful timeshare resorts in popular vacation destinations including Mexico timeshare, Puerto Rico timeshares, Central America, the Canary Islands and Spain timeshare. Sol Meliá Vacation Club is part of the fifty-year old hospitality leader, Sol Meliá Hotels & Resorts, which is headquartered in Spain.
In what the timeshare and hotel company predicted last year would an “insipid” recovery, the company released its first quarter 2010 financials last week, with Sol Meliá showed a profit of one million Euros. This marks a 124 percent increase over the same period in 2009. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the company also increased for the first time since the presentation of the annual results in 2007.
The company is hinging part of its optimism about future earnings on the economic recovery in the US, saying, “The economic recovery in the United States, our most important feeder market for Latin America and the Caribbean makes Sol Meliá confident, nevertheless, that results will improve overall for 2010 in the region; and in particular the reactivation of hotel occupancy from the US (60% of our total guests in the region) also points towards a recovery in Sol Meliá Vacation Club.”
Unpredictable Challenges for Mexico Timeshare, Dominican Republic Timeshares, Venezuela Timeshares, and Spain Timeshares
The company also acknowledges the impact of events additional to the poor economy on its business. These events include the effect the Influenza A virus in Mexico; of earthquakes in Haiti on bookings in neighboring Dominican Republic timeshares; the devaluation of the Bolivar in Venezuela; and the impact of volcanic ash fallout on Spain timeshare and other resorts in Europe.
Sol Meliá currently employs more than 33,000 people worldwide and was one of a select number of RCI timeshare exchange affiliates to meet RCI’s standards of recognition as a top-performing partner. Sol Meliá Vacation Club received the award based on the company’s volume of business.
