Escarrers face a family obligation; a big payout is due soon as Sol Melia stock lags
Article Abstract:
The article discusses how the Escarrer family, founders and 66% owners of Sol Melia S.A., may have to pay roughly Euro20 million, or even more than twice that amount, to some of the firm's minority shareholders.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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Sol Melia's strategic shift spurs scorn
Article Abstract:
Sol Melia SA, Europe's biggest hotel management firm, is being criticized redirecting its strategy after putting in place a different strategy only seven months before. Part of the problem involves the attempt to acquire Milia Inversiones Americanas, another hotel company with links to the controlling Escarrers family and merge with the affiliated real estate company Inmotel Inversiones SA, leading to a suspension of share trading for the companies involved. There is concern among smaller shareholders that their shares will lose value and that the company has lost out on opportunities to merge with other global hotel companies.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Sol Melia's net rose 12% in first half as Spain booked big tourism demand
Article Abstract:
Sol Melia SA posted an improvement of 12% in its net profits for the first-half of 1999. The company reported 34.1 million euros for the period. During the same period in 1998, Sol Melia posted 30.4 million euros in net profits. The company was helped by the booming tourism industry in Spain. The industry is benefiting from the strong Spanish economy and the influx of tourists who are avoiding areas plagued by conflict in Eastern Europe.
Comment:
Posts improvement of 12% in net profits for first-half of 1999
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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