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Meliá Hotels International held its 2016 General Shareholders' Meeting

Marking the company’s 60th anniversary, Meliá Hotels International held its 2016 General Shareholders' Meeting to discuss the future of the hotel company. Chaired by Founder Gabriel Escarrer Juliá, the meeting highlighted the role of Meliá Hotels International in the history of tourism over the last six decades. It focused on the current strategic priorities and the process of cultural transformation which, he explained, will allow the company to look forward to another 60 very promising years.

Current strengths and leadership
Mr. Escarrer reviewed the results for 2015, which saw a 16 per cent increase in global revenues and rose to more than €2.9 million, as well as a 29 per cent increase in Ebitda, with profit before tax of €101.6 million and €40.5 million in net profit.  

In 2015 Meliá Hotels International also achieved its objectives of reducing net debt, which fell by more than €200 million, and also in asset management, generating over €200 million from hotel sales, whilst retaining the management of all sold hotels. Mr. Escarrer also stressed the company’s past commitment to renovation and repositioning through an investment of €78 million in 2015. Following the changes the hotels achieved an average increase of 30 per cent in average room rates in their first season.  

Over the last year Meliá Hotels International’s share prices have risen by 37 per cent, compared with an average reduction in the IBEX index of 7 per cent.  

Regarding the performance of the hotel business, Mr. Escarrer highlighted the 15.1 per cent increase in revenue per available room (after 23 consecutive quarters of growth), the 28 per cent increase in sales through, and the 5 million members now registered with the MeliaRewards loyalty programme.  

The international expansion of Meliá Hotels International in 2015 allowed the addition of 25 new hotels, and in 2016 will be reflected in the opening of 24 more new hotels.  

Mr. Gabriel Escarrer Juliá, Chairman and Founder at Meliá Hotels International, commented: "In 60 years we have grown from a small company to a multinational group with nearly 100,000 rooms in 43 countries, but we have never lost our family spirit nor our values. It is precisely thanks to these values, and a united and talented team, that we have been able to achieve responsible and sustainable growth and maintain our global leadership.”  

Competitive advantages
The success of Meliá Hotels International over the last 60 years has been credited on the below points:
·         The early globalisation of Meliá Hotels International
·         A highly diversified business model
·         A broad portfolio of brands appealing to different markets
·         A corporate governance model that combines the consistency of listed companies with family business values
·         Corporate values and innovation
·         Corporate social responsibility, guided by the desire to build a legacy focused on protecting and supporting children, sustainable tourism and the environment  

Facing the future with confidence
Meliá Hotels International is preparing for the future through a strategic plan focusing on digital channels, selective growth in key markets, and a robust financial model.

The basis for the cultural transformation of Meliá Hotels International will result in a company which is:
·         More global (80 per cent of operating revenues is already generated outside Spain)
·         Growth based on low capital-intensive formulas and focusing on our excellence as Hotel Managers
·         More digital in our processes, sales and relations with customers and other stakeholders
·         Decentralised and "glocal"
·         Focused on the personalisation of the customer experience

Meliá Hotels International is fully prepared to achieve swift and strategic growth anywhere in the world, to meet the diverse and changing expectations of customers, and to face the challenges of a variable international environment, all thanks to a business model which is less capital intensive.  

As expected, the General Shareholders' Meeting was attended by the required quorum and proceeded to approve all of the proposals set forth in the agenda.

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