News: Meliá Hotels sees revenues fall over summer

Meliá Hotels International has revealed its results for the first nine months of the year.

The company generated revenues of €1,414 million up to September, lower than in the same period in 2017 due to the significant number of hotels under renovation and in the process of opening throughout the year.

Net profit increased by 10.1 per cent compared to the previous year and EBITDA grew by 9.1 per cent.

Meliá saw a sharp improvement in the EBITDA margin (up 83 basis points), attributable above all to improved efficiency both in sales and in management in general as the group continues to move forward with its digital transformation.

Earnings per share also grew by 10.1 per cent, to €0.52, compared to €0.47 in the same period in 2017.

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Gabriel Escarrer, chief executive, Meliá Hotels International, said: “The first nine months of 2018 confirm the competitive advantage created by a strategy focused on digital and sales strength and the extensive renovation and repositioning of our assets and brands.

“Our commitment to a model that prioritises adding hotels under management agreements is also beginning to bear fruit, providing us with increasing revenues from management fees and maximising our scale and structure in different markets.

“I am proud to highlight the positive performance of the group in the first nine months of 2018, despite the competition from recovering destinations in north Africa and Turkey and the fall in bookings by northern Europeans caused by the exceptionally good weather they have had this summer.”

More Information

Breaking Travel News spoke with Gabriel Escarrer, chief executive of Meliá Hotels International, at World Travel Market in London earlier this week to discover more about the group’s plans for 2019. Find out more below:

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