Melia Hotels International announces nine-month 2017 financial results

Melia Hotels International will sign more than 30 new hotels during the remainder of 2017

ME by Melia Dubai.
ME by Melia Dubai.

Meliá Hotels International has released its nine-month 2017 financial results which show it has increased profits by 23.3% and improved margins and sales efficiency, consolidating a business model focused on hotel management.

The business model based on managed hotels has seen an increase in EBITDA of 9.2%, due to an increase in fee revenues. However, the situation in Catalonia, the Venezuelan Bolivar exchange rate, the hurricane in Puerto Rico and the closure of several airlines in Europe had a negative impact on performance.

Meliá Hotels International will sign more than 30 new hotels during the remainder of 2017, having already signed 23 new hotels in the first nine months of the year with four more to be signed in Asia in October. The company has recently opened the Meliá Iguazu in Argentina and is preparing the opening of the Meliá Serengeti Lodge, in Tanzania, and ME Sitges, in Spain, later this year. 

Did you like this story?
Click here for more

The pipeline currently boasts a global offering of over 17,000 rooms in 70 hotels, representing 18% of the current portfolio. Around 93% of these hotels will be added to the Meliá Hotels International portfolio under management agreements. 

Gabriel Escarrer, executive vice president and chief executive officer, Meliá Hotels International, commented: “The first nine months of 2017 confirm the strength of the company despite a less favourable business environment. Despite these challenges, the positive results in urban and resort hotels in Spain, excellent performance of major projects such as the Gran Meliá Palacio de los Duques in Madrid and ME London, and the trends in sales driven by the company’s digital strength make us optimistic about the outlook.”

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular

Newsletter

Reports

Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine