The hotel chain Meliá Hotels International closed its third consecutive positive summer after the pandemic resulting from increase in revenue, which grew by 2.7% compared to last year until 584.1 million in these three months due to the upward trend in prices, the greater rate of reservations and the replacement of products in the luxury segment. In total, the group accumulates a turnover of 1,544.1 million, 4.5% more than the previous year. All this has led to the rise of net result of the group, which stood at 139.4 million euros, 28.3% more.
He great performance of the Spanish marketespecially on the coasts and the Balearic Islands, and a good performance of British tourism, with more presence than in previous years, caused a increase in revenue per room (RevPAR), which grew by 10.7% during the summer quarter due to higher rates; and accumulates an increase of 11.9% throughout the year.
Furthermore, Meliá has seen how two of its big bets, such as direct sales or the corporate and events segment, are pushing up its results. In the first case, 49% of its sales are already made directly through its website, which saves intermediation costs; while the recovery of the MICE segment registers increases of 23% in its sales and forecasts of +13% for 2025, driven by the opening in January of the Gran Melia Torre Melina and the Palacio de Congresos de Catalunya.
With all this, the hotel chain directed by Gabriel Escarrer increased its Ebitda to 428.6 million eurosafter registering an increase in the margin of 262 basis points, up to 32.3%. During the third quarter, this profitability indicator stood at 188 million euros, compared to 168 million in the same period of the previous year; which added to the 142 million of the second and the 95 million of the first once again show a growing and consolidated trend.
The company maintains its forecasts to reduce the ratio of net financial debt to EBITDA to below 2.5 times, after placing the debt at 832.2 million, 60 million less during the quarter. This reduction is possible thanks to the good generation of operating cash and the great liquidity of the group (482.3 million as of September 30), as well as the reduction of financial expenses by 22.6% due to lower interest rates. lower debt and refinancing.
Gabriel Escarrerpresident and CEO of Meliá, pointed out in a statement sent by the company that the summer season was “positive, in which the willingness to travel and the global boom in experiential tourism are strengthened, along with the incremental demand for products and services” premium” and luxury, as well as the consolidation of the recovery of the Corporate and MICE segment, which showed double-digit growth compared to the previous year.” Thus, he speaks of a “healthy trend towards normalization of growth” as a result of the greater rate of visitor arrivals and their greater average outlay, a rise that “Meliá Hotels International continues to capitalize“.
The Balearic company maintains good outlook for the fourth quarterwhich he hopes will be “positive” and will allow him to consolidate this increase in RevPAR above 10% annually that will sustain Ebitda above 525 million euros. He is also optimistic about the first three months of 2025 in the most in-demand destinations on these dates: Canary Islands, Cape Verde, Southeast Asia and the Caribbean. In addition, it confirms that lost demand has already been recovered in Vietnam, Thailand and Indonesia.
Regarding its internal strategy, Until September 30, Meliá had signed 30 new hotels with 4,595 rooms; and has opened 14 so far this yearwith more than 2,200 rooms. Their plans include opening another 9 until the end of the year. In addition, the company has opened an office in Saudi Arabia to plan its expansion in this territory, where it has a plan to open 5 hotels and 1,200 rooms in the next three years; and raise this figure to 5,000 in the medium term.
As for its different brands, in December it will open its first ZEL on the American continent, in Punta Cana. In addition, it is studying acquiring a luxury hotel portfolio in Argentina through management contracts; and will double its portfolio in Mexico in two years. Added to this are new hotels in Vietnam, Albania, Spain, Argentina and Saudi Arabia.
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