by Michael J. Shapiro | March 02, 2011

 Spanish hotel company Sol Melia announced solid 2010 year-end financial results on Monday, including net profits of 50 million euros (US$69 million) and an 8.9 percent increase for the year in revenue per available room. Growth in European cities and the Canary Islands was a key factor in its 2010 strategy, according to the company, as was exposure to new markets. Sol Melia debuted in Shanghai, China, last year, as well as in the U.S., with the 502-room Sol Melia Atlanta.