by Donald Wood
Last updated: 5:15 PM ET, Wed March 1, 2017
On Wednesday, Spanish hotel chain Melia Hotels International announced the company had earned profits of €100.7 million ($106.2 million) in 2016, an increase of 180 percent from the previous year's total.
Melia officials revealed the hotel chain signed up more than 30 new hotels and opened 17 new hotels in 10 countries during 2016. As for 2017, the company says the numbers will rise to 23 new hotels in at least 15 countries.
In addition to new openings, Melia also improved its Vacation Club, which has now been dubbed The Circle. Not only will The Circle have a close connection to the MeliaRewards loyalty program, but it also offers members more flexibility and greater variety, as well as focusing more on the exclusivity of the experience.
Company officials reported Melia.com has blossomed into a key sales channel that grew by 30 percent in 2016 to reach €430 million ($453.6 million) in sales. The new MeliaPro online channel for professional clients also registered growth of 71 percent.
"The 2016 results once again show a strong performance from the hotel business as a result of a positive international travel environment, especially in resorts, and our successful strategy over recent years, laying the groundwork for more profitable and qualitative growth in the coming years," Melia Hotels International DEO Gabriel Escarrer Jaume said in a statement.
"Together with a significantly healthier balance sheet, and a business model increasingly based on international growth and management agreements, all of this places us in an unbeatable position to face the significant geopolitical, economic, social and technological challenges that affect the industry on a global level."
[READMORE] READ MORE: "Mexico's Amazing Resorts with the Best Suite Plunge Pools" [/READMORE]
Officials from Melia Hotels International are also looking forward to 2017. Executives announced that while performance is expected to be weaker in the Dominican Republic and the Middle East, the company expects growth in key markets such as Mexico, Spain, Germany and other European nations.
The 2016 fiscal results also indicated that Melia improved by 10.3 percent in regards to its business in Cuba. The company credits the normalization of relations between Cuba and the United States as a major contributing factor in 2016's improvement and success moving forward.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
