Development of the spanish hotel industry: the group Melià

Lorena Caridad y López del Río, Julia M. Nuñez Tabales

Abstract


The hotel sector in Spain is clearly adopting an internationalisation strategy. The main agent in the country is the Melià Group, with a typical pattern of reinvesting profits and using banking credit to finance its expansion, with the acquisitions of properties, mainly in Spain, during the first twenty years. Recently, the orientation is towards a service industry, providing expertise in management of hotels. The evolution is typical of a private family company, with a second generation of the founding owner getting in charge, although the company went public in the nineties. The hedging of the actual policy is not only of the financial type, but also, in expanding using management contracts, instead of acquiring property. After several years of losses, the group is again in the black, but the structure of the company can be the prelude to an acquisition, in its totality or in parts, by some other global hotel chains. 


Keywords


Internationalization, Melià Group, private company, hotel services.

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