Meliá, the first hotel chain to go public, leaves the selective stock market

Meliá, the first hotel chain to go public, leaves the selective stock market
Meliá, the first hotel chain to go public, leaves the selective stock market

The Melia hotel chain has been the biggest loser with the IPO of Puigcausing its expulsion from the Ibex 35, the stock market index that brings together the companies with the highest capitalisation, after the cosmetics and perfumes firm revealed a value of more than 14.5 billion euros. And that despite the fact that the hotel chain has experienced a meteoric growth in the last year -with a 25% increase in its stock market value, up to 1.6 billion euros-, which has meant recover pre-pandemic levelswhich saw the decline of the hotel sector due to closures resulting from movement restrictions around the world. However, it is still far from the 2007 bonanzawhen he reached more than 3 billion euros of capitalisation.

Founded in 1956 in Palma de Mallorca, Gabriel Escarrer Julia acquired and managed a hotel 60 rooms Today it has become a multinational company that manages around 400 hotels in more than forty countries and four continents. The company, which maintains its site In that first hotel, he was born in the holiday segment with the development of ‘sun and beach’ establishments in Spain and later expanded to American Caribbean and also to Southeast Asia. So much so that it has become a hotel reference in countries such as Cuba or Indonesia.

One of the keys to this expansion was the Purchased two of the largest hotel chains of the time in the 1980swhich represented the incorporation of almost 70 hotels in a single yearbringing brand recognition as well as international expansion. But soon after, in the 1990s, the company redirected its focus to the urban hotelsa segment that it still dominates. Meliá maintains its presence in key markets such as China, the Middle East or the United Statesin addition to maintaining leadership in traditional markets such as Europe, Latin America or the Caribbean.

Generational change

Was the first hotel company to go publicalmost three decades ago, at the beginning of July 1996. That moment also marked the generational change with the entry of the second generation of the Escarrer family, promoter of a cultural transformation to adapt to the new times, which was most clearly reflected in the change of its name in 2011. Until then, the chain was known as Sol Meliabut from that date it became Melia Hotels International.

And in 2016, this change was completed, with the resignation of Gabriel Escarrer Julia to his executive powers, which he transferred to Gabriel Escarrer Jaume as vice president and CEO of the group, with the founder taking over the non-executive presidency, presiding over the board of directors and the general meeting of shareholders. Until June of last year, when Escarrer Juliá left the presidency of the company into the hands of his son.

Ten brands

Currently, this multinational manages a total of ten flags according to the different market segments it targets: Gran Meliá Hotels & Resorts, ME by Meliá, The Meliá Collection, Paradisus by Meliá, Meliá Hotels & Resorts, ZEL, INNSiDE by Meliá, Falcon’s Resorts by Meliá, Sol by Meliá and Affiliated by Meliá.

And now has the focus on the luxury segmentto provide value to visitors beyond ‘room and breakfast’ with the intention that one in three openings expected in the next three years to occur in this segment, in addition to the refurbishment of many of its old hotels through “reforms” and rebranding.

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