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Sol Melia facing more difficult times

The hotel company Sol Meliá presented its financial results for the first nine months of the year affected by a number of exceptional factors beyond its control. Net profits at Sol Meliá between January and September were 80 million euros, a decrease of 41.7% over the same period in 2007. Just like the other company financial results to September, this net profit figure was affected by the weakness of the dollar against the euro. In constant euro terms total revenues would have grown by 2.6% compared to the 3% drop seen in actual results, while RevPAR would have grown by 0.8% instead of decreasing by 2.1%.

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