Sol Melia grew its profits 31.5% in 2010 thanks to an increase in occupancy and room rates.
The growth was also driven by expansion in the USA, China and United Arab Emirates as well as a good performance in European cities and the Canary Islands
In 2010 the company obtained net profits of 50.1 million euros, a 31.5% increase on the previous year, with revenues of 1,250.7 million euros (+8.9%). EBITDA reached 235 million euros, an increase of 16.5%.
Last year the company opened its first hotel in China, the Gran Meliá Shanghai, and added its first hotel in the USA, the Meliá Atlanta.
It has 27 hotels in pipeline for the next three years.