Melia Hotels returns to earnings in H1 on tourism rebound in Spain, ET TravelWorld News, ET TravelWorld

Melia Hotels returns to profits in H1 on tourism rebound in Spain

A robust upturn in tourism worldwide, helped Spain‘s Melia Hotels return to earnings within the first semester, the corporate mentioned just lately, because it forecast a full restoration from the Covid-19 pandemic shall be confirmed through the third quarter of the yr.

The Mallorca-based group’s booked web earnings of EUR 3 million within the first six months of 2022 from EUR 151.2 million losses a yr earlier, it mentioned, whereas income jumped 143.6 per cent to EUR 741.5 million.

Melia’s revenues are nearly again to pre-pandemic ranges, solely down 1.3 per cent versus 2019. “The trends framing our results in the first half of the year are undoubtedly the very strong pull from tourism demand, described by some as revenge travel,” Chief Executive, Gabriel Escarrer, mentioned in an announcement.

The Mallorca-based group expects to have higher gross sales in 2022 than in 2019 in its resort resorts, helped by holidaymakers’ demand for roomier lodging that enhances the common value of a keep. Meanwhile its city locations are forecast to usher in 13 per cent lower than earlier than the pandemic.

“Melia is prepared to take maximum advantage of the boom that is still going on and to face an eventual change in the economic cycle”. Bookings in resort resorts exceed 2019 ranges for the third quarter and Melia expects to see an enchancment in bookings for city resorts later within the yr because of the company occasions season.

In Spain, Melia mentioned that there’s an elevated demand for deluxe rooms and suites, permitting them to enhance revenues over earlier years.

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