India, Aug. 1 -- Melia Reports Recurring Net Profit of €83.4 Million, Prior to the Accounting Impact
of the Extraordinary Provision Related to the Exit from Cuba of its Subsidiary Ilha
Bela, and Confirms Another Strong Summer Season
Financial Performance
- Recurring Net Profit: €83.4M (excluding Cuba provision)
- Revenues: €1,047.4M, up 7.1% YoY
- RevPAR: +11.7% vs. prior year, +14.2% in Q2
- EBITDA: €244.7M (+2.5%), despite temporary closures for refurbishments
- Direct Customer Sales: +12%
- Operating Margin: Stable compared to last year
Strategic Growth
- New Hotels Signed: 17 (3,816 rooms)
- Hotels Opened: 14 (2,000+ rooms)
- Digital Channels:
- Melia.com & App: +14%
- MeliaPro (B2B): +15%
- MeliaRewards: +15%
- Guest Satisfaction: NPS of 61.2%
- Sustainability: Ranked Europe's most sustainable hotel company, 3rd globally (S&P Global ESG); recognized by TIME & Statista
Financial Management
- Increased investment in acquisitions and equity stakes
- Target leverage ratio: 2.0x-2.5x Net Debt-to-EBITDA
- Evaluating disposal of non-core assets to optimize capital allocation
Cuba Exit (Extraordinary Impact)
- Geopolitical and economic instability made operations unsustainable
- Activities classified as "Discontinued Operations"
- Provision generated €79.4M losses from discontinued operations
- No cash flow impact......
Published by HT Digital Content Services with permission from Travel Media.