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Meliá Hotels Looks to Expand Internationally
6/14/2012
In his speech at the Annual General Shareholders Meeting, the chairman of Meliá Hotels International, Gabriel Escarrer, stressed the importance of the globalisation of the company for healthy growth. With nearly 80% of operating profit generated outside Spain in 2011, Meliá sees 2012 as a time of great challenges, among them the travel boom in emerging economies, challenges which the company expects to meet with great success.
Regarding progress and results in 2011, the hotel company's response focused on international expansion, a commitment to its brands and customer loyalty, and financial prudence. Escarrer emphasised the results of the recent company asset valuation (3,314 million euros) thanks to the location and quality of the hotels and the fact that Meliá has continued to generate positive business results and retained the support of major financial institutions to renew and refinance the full amount of its credit facilities.
He also stressed the importance of product innovation to adapt to the needs of new and more discerning and diverse market segments, and also of innovation in marketing and customer relationship management, where a loyal customer base is a key success factor and where online channels and social networks are increasingly important for generating brand recognition and an affinity with customers, while also generating bookings. For example, revenues from the melia.com website have grown from 119 million in 2009 to the more than 180 million forecast for the end of 2012.
GLOBALISATION
Since opening its first international hotel in Bali in 1985, Meliá has grown in resort destinations worldwide and in major European cities such as London, Berlin, Paris, Rome, Luxembourg, Copenhagen, Lisbon, and Vienna. This growth and the dynamism of these markets have meant that in 2011 around 80% of the company's operating profit was generated outside Spain.
Escarrer devoted a special mention to emerging markets such as Brazil, Latin America, and Asia, where Meliá already has a significant portfolio and where it will continue to grow in the coming years as demand from these countries grows.
Escarrer announced that this intense globalisation will be facilitated by growth through low capital-intensive formulas such as management or variable lease agreements. The founder of Meliá highlighted the importance for the success of company strategy of its corporate values and the talent and commitment of its more than 37,000 employees.
With regard to sustainability and social responsibility, the Chairman of Meliá announced progress on environmental issues such as the project to measure the ecological footprint of the company, and social commitments signed with UNICEF, the WTO, or the Global Sustainable Tourism Council. During the year, Meliá renewed its certification as a Biosphere Hotel Chain, and has continued to work actively to raise awareness and promote social responsibility in the tourism industry.
Finally, Escarrer expressed his confidence about sustained growth in the tourism industry over the coming years given that the industry "in general, has shown resilience to the crisis," as well as about the strength of the company thanks to its highly professional team, loyal customer base, asset portfolio, brand portfolio, and its solid balance sheet.
READER COMMENTS
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Thursday, June 06, 2013 by social bookmarking service
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