August 13, 2007 -- /prbuzz/ --SOL MELIÁ VACATION CLUB REPORTS TOTAL REVENUE INCREASE
OF 63 PERCENT OVER SAME SIX-MONTH PERIOD LAST YEAR
ORLANDO, Florida (Aug. 10, 2007) -- Half way through its third year of operations, Sol Meliá Vacation Club (SMVC) has doubled its 2007 profitability thus far from an already 2006 record year. The Orlando-based company, which is part of Spain-based Sol Meliá Hotels & Resorts, is reporting a total revenue increase of 63 percent for the first half of 2007 over the same six-month period 2006. SMVC total revenue is expected to be around $150 million this year with an average sales price per unit of $1.25 million.
In 2007, Sol Meliá Vacation Club opened new projects at ME by Meliá in Cancun, the Gran Meliá Puerto Rico, Paradisus Punta Cana in the Dominican Republic and Meliá Gorriones in Spain. Additional successful satellite sales centers were also opened this year in Europe and North America. Sol Meliá Vacation Club continues its success with record sales and some of the best operating margins within the vacation ownership industry reporting pre-tax income margins close to 40 percent.
“Our success partially comes from a well-thought-through and well-executed business model that provides close synergies with all aspects of Sol Meliá Hotels & Resorts. All SMVC projects are fully integrated with Sol Meliá Hotels & Resorts projects,” said Alain Grangé, Chief Executive of Sol Meliá Vacation Club and Sol Meliá Leisure Real Estate Company. “Together we benefit from synergies in marketing, sales, products, operations, financial strengths, customer loyalty and brand recognition. SMVC has been profitable since our first quarter of business, from vacation club sales, member and network fees, rentals, and Club portfolio.”
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Sol Meliá Vacation Club is an internationally-branded membership club that focuses on providing leisure lifestyle experiences that include exotic destinations, designer-appointed luxury accommodations, exclusive services and unforgettable amenities. The leisure lifestyle concept is designed to provide members with an entire lifetime of leisure experiences to meet their ever changing needs. Membership provides several options: the first - vacation club membership - provides a more traditional vacation time period (1 to 3 weeks) to accommodate a stage in life when there are larger families and children traveling together and require larger accommodations, more space, and fabulous facilities. This concept provides a guarantee of prices of today through membership which makes this type of vacationing affordable year after year. The second membership option offers longer-termed leisure time periods (4-8 weeks) that is focused more for those who have more leisure time available to them to travel, as well as more established finances, and who still desire a variety of destinations and luxury accommodations. The final phase progresses to full ownership opportunities for those who wish to live in paradise all year long.
All members have access through SMVC to stay at all Sol Meliá’s hotels and resorts worldwide, including those in destinations such as Paris, London, Madrid, Rome and more. With close to 20,000 active members since its inception, SMVC is rapidly growing its portfolio of international resort locations and is a strengthening force of Sol Meliá’s overall leisure real estate focus. “The success of SMVC, together with Sol Meliá hotels, is based on having one culture, one goal, and a great understanding of each other’s business, as well as an understanding of our consumer’s expectations,” Grangé added.
Sol Meliá Hotels & Resorts is a 50-year-old international hospitality company with 350 hotels in 30 countries on five continents. Sol Meliá Vacation Club members enjoy the best of both worlds: all the conveniences and amenities of a world-class resort, plus the value, flexibility and choice that vacation membership offers throughout the Sol Meliá Vacation Network. Members have more vacation lifestyle options through global luxury accommodations in a variety of unique resort and urban destinations around the world as well as the flexibility to choose the length of stay, season and size of unit. In addition, Members can save their vacation time from one year to the next if needed, borrow from future vacation years to create a special experience that could include airfare or a spectacular cruise, divide their vacation time into shorter getaway or nightly stays or stay at any Sol Meliá hotel or affiliated resort worldwide.
For Sol Meliá Vacation Club details, call (407) 370-3671 or visit www.smvc.com.
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Press contact: Kathy Hernandez, (407) 381-0428 or
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About the Press Release
Orlando-based Sol Melia Vacation Club reports first half 2007 financials with 63 percent revenue increase over same period last year. 2007 year-end total revenue expected to surpass $150 million.
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