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Melia records 34 per cent profit jump in first half of 2017

Hotel chain predicts a positive third quarter to follow, particularly in urban Spain and the Mediterranean
28/07/2017

Pictured: Gran Meliá Palacio de los Duques, which is a top three ranked hotel in Madrid according to TripAdvisor

Melia Hotels International saw net profit leap 34 per cent to €60.4 million (£54.1m) in the first half of 2017.

And the hotel chain expects a positive third quarter overall, especially in the urban Spain and Mediterranean divisions. Revenue per available room (RevPAR) grew by 7.7 per cent globally due to price improvement, increasing by 15.7 per cent in hotels in Spain.

Gabriel Escarrer, vice chairman and CEO of Meliá Hotels International, said: “The first half of 2017 reveals a solid evolution both in the level of income and RevPAR, as a result of our effort to maintain the competitive edge that makes us leaders in the holiday segment, and the excellent position gained in the emerging “bleisure” segment, where we are leaders in offering customers high added value experiences and services.

“Meliá has also continued to actively invest in the repositioning of the portfolio in order to increase its profitability, to enhance our brands’ penetration in the superior and luxury segments, and to be ready for the summer season, which is critically important for our operations throughout the world.”

The group also highlighted its premium hotel offering in Seville, Barcelona, Majorca, Sancti Petri and Madrid as a key driver of the results, where the Gran Meliá Palacio de los Duques is now among the top three ranked hotels in Madrid according to TripAdvisor.


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