Sol Melia Vacation Club Reports Strong Start to 2008 with Impressive First Quarter Results

Business Wire, May 21, 2008

ORLANDO, Fla. -- Following a banner year in 2007, after just three years in operation, Sol Melia Vacation Club (SMVC) is reporting a strong start to 2008 and its fourth year, with a total revenue increase of 22 percent for the first quarter of 2008, over the same period last year. The overall improvement in revenues, along with improved costs and operating expense efficiencies, has also resulted in a continued strong EBITDA margin of 41 percent for the first quarter.

The Orlando-based company, which is part of Spain-based Sol Melia Hotels & Resorts, continues to gain sales momentum with the success of new projects in Mexico, Puerto Rico, Spain, the Dominican Republic and Central America and the launch of its deluxe four-bedroom villas product which is marketed and sold as a multiple weeks package.

"The quality of our internationally branded Club product and efficiency of our global sales programs are what distinguish us," said Alain Grange, Chief Executive of Sol Melia Vacation Club and Sol Melia Leisure Real Estate. "With over 20,000 active members since our inception, SMVC is rapidly growing its portfolio of international resort locations and is a strengthening force of Sol Melia's overall leisure real estate focus."

In 2008, Sol Melia Vacation Club will open new projects in Punta Cana, Dominican Republic, the Canary Islands, Spain and the second phase of Sol Melia Vacation Club at Gran Melia Puerto Rico.

Sol Melia Vacation Club is an internationally-branded membership club that focuses on providing leisure lifestyle experiences that include exotic destinations, designer-appointed luxury accommodations, exclusive services and unforgettable amenities. The leisure lifestyle concept is designed to provide members with an entire lifetime of leisure experiences to meet their ever changing needs. All members have access through SMVC to stay at all Sol Melia's hotels and resorts worldwide, including those in destinations such as Paris, London, Madrid, Rome and more.

Sol Melia Hotels & Resorts is a 50-year-old international hospitality company with 350 hotels in 30 countries on five continents. Sol Melia Vacation Club members enjoy the best of both worlds: all the conveniences and amenities of a world-class resort, plus the value, flexibility and choice that vacation membership offers throughout the Sol Melia Vacation Network. Members have more vacation lifestyle options through global luxury accommodations in a variety of unique resort and urban destinations around the world, as well as the flexibility to choose the length of stay, season and size of unit. In addition, Members can save their vacation time from one year to the next if needed, borrow from future vacation years to create a special experience that could include airfare or a spectacular cruise, divide their vacation time into shorter getaway or nightly stays or stay at any Sol Melia hotel or affiliated resort worldwide.

For Sol Melia Vacation Club details, call 407-370-3671 or visit www.smvc.com.