Sol Meliá Vacation Club Reports Strong First Half 2008 Results, Continued Growth and Development Despite Weak Economy

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Now in its fourth year of operation, Sol Meliá Vacation Club (SMVC) is reporting a strong first half of 2008 with a growth in total revenues of 17 percent over the same period last year. The overall improvement in revenues has also resulted in a continued net profit margin of 40 percent for the first half of 2008.

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Sol Meliá Vacation Club continues to grow in sales, membership and new member resorts. We are moving forward favorably, and we are pleased

The Orlando-based company, part of Spain-based Sol Meliá Hotels & Resorts, continues to gain sales momentum. Successful new projects in Mexico, Puerto Rico, Spain and the Dominican Republic have been the key to SMVC's growth and development plans.

"Sol Meliá Vacation Club continues to grow in sales, membership and new member resorts. We are moving forward favorably, and we are pleased," said Alain Grangé, Chief Executive of Sol Meliá Vacation Club. "This has been a year of focusing on what we do well and implementing ways to tighten efficiencies, especially in automation and computerization. Our IT team is implementing and rolling out a new information system to be used by all SMVC resorts for marketing, sales administration, accounting, loan servicing, reservations, property management, member services, etc., as well as launching a more interactive member's website."

This summer, SMVC announced the opening of its third location in the Dominican Republic, The Reserve at Paradisus Punta Cana, and Gran Meliá Palacio de Isora, Canary Islands, Spain, its first member resort in Tenerife and fourth in the Canary Islands.

The Reserve at Paradisus Punta Cana features 190 luxury oversized one-bedroom suites, one-bedroom master suites and two-bedroom lock-offs with lavish amenities such as plasma TVs in the living room and bathroom, hydro massage showers, private balconies, hot tub for two, fully-equipped kitchenettes, lagoon style swimming pools, children's pool and kids' club, and the world-class Yhi Spa. SMVC Members have access to all services and amenities of the 550-suite Paradisus Punta Cana resort complex, including its 10 restaurants, seven bars, casino, golf course and 24-hour room service.

SMVC at Gran Meliá Palacio de Isora features 200 one-and-two bedroom oceanfront suites with plasma TV, fully-equipped kitchenettes, upscale wood and granite accents. The resort includes five specialty restaurants, six bars, room service, a wine cellar, world-class Yhi Spa, two tennis courts, a golf simulator, four adult swimming pools, two children's pools, and one of the largest swimming pools in Europe.

Additionally, in late 2008, SMVC will open The Reserve at Paradisus Palma Real in the Dominican Republic, including Presidential Club Suites, as well as the second phase of the highly successful Sol Meliá Vacation Club at Gran Meliá Puerto Rico at Coco Beach, Rio Grande.

The Reserve at Paradisus Palma Real will feature 190 one and two-bedroom lock-off units with modern upscale design, exotic Balinese bed, private hot tubs on the balcony units and direct access from the lower level patio units into a spectacular lazy river swimming pool. Presidential Club Suites will feature two, three and four bedrooms, with the four bedroom suites accommodating up to 10 people, sold as a multi-week product. SMVC members will enjoy the resort's fitness program, golf course, first class spa treatments, expansive white sand beach and crystal clear water, variety of gourmet restaurants, bars, casino, supervised children's programs, daily schedule of adult activities, concierge service and 24-hour room service. Earlier this year, SMVC rolled out an exclusive, customized training program for its concierge employees using the Paradisus Palma Real as its beta site. The training program focuses on optimizing services and anticipating guest needs to provide an exceptional experience through a high level of service and make each stay a memorable one.

SMVC at Gran Meliá Puerto Rico is located close to the El Yunque National Rainforest and 30 minutes to historic Old San Juan. The first phase opened in summer 2007 with luxurious oceanfront one, two and three-bedroom lock-off villas with private check-in and members VIP Lounge, featuring satellite TV, stereo system, DVD player, and some units with hot tubs on the balcony. Phase 2 will feature 63 units, 42 One Bedroom Suites and 21 One Bedroom Master Suites, with an additional 45 units on-line in the spring of 2009. SMVC Members have access to fine dining restaurants with international cuisine, bars, tennis courts, basketball court, evening entertainment, daily organized activities, non-motorized water sports and the largest lagoon-style swimming pool in Puerto Rico, as well as a kid's club, children's pool, full-service spa, casino and championship golf at nearby Coco Beach Golf and Country Club.

In 2009 SMVC will add a new member resort in Playa del Carmen, Mexico as part of a new development by Sol Meliá that will feature both a Paradisus and a Gran MELIÃ hotel. The Paradisus resort will feature a total of 413 units with 157 Club units, while the Gran MELIÃ hotel will feature 533 units with 213 Club units for a total of 370 SMVC one- and two-bedroom units between the two luxury hotels.

Sol Meliá Vacation Club is an internationally-branded membership club with over 25,000 members that focuses on providing leisure lifestyle experiences with 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 Meliá's hotels and resorts worldwide, including those in destinations such as Paris, London, Madrid, Rome and more.

Sol Meliá Hotels & Resorts is a 50-year-old international hospitality company with 350 hotels in 30 countries on five continents. Sol Meliá Vacation Club members enjoy the best of both worlds: all the conveniences and amenities of a world-class resort, plus value, flexibility and choice that vacation membership offers throughout the Sol Meliá 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 flexibility to choose length of stay, season and size of unit. In addition, Members can save 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 Meliá hotel or affiliated resort worldwide.

For Sol Meliá Vacation Club details, call 407-370-3671 or visit http://www.smvc.com.

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Kathy Hernandez
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