12/11/2014 – Expansion
This year’s well-faring tourism sector spurs on Meliá Hotels International‘s results. The chain run by the Escarrer family earned €34.92 million from January to September, 55.6% more from the same term in 2013.
The revenues rose 9.2% and posted €1.15 billion , whereas the Ebitda remained stable at around €200 million.
Meliá cut in its net liability by €65 million and it is set to develerage even more by the end of the year, thanks to a combination of improved sales, asset turnover and turning €18.5 million into a convertible bond.
The hotel chain closed the third quarter books with a 12.6% advance in RevPAR (revenue per available room), of which 70% corresponds to better prices. In Spain as a whole, city hotels also saw an increase of 7.8% in their RevPAR rates.
In 2014, Meliá added 17 hotels to its portfolio – and now it holds more than 365 establishments – and the chain foresees reaching a number of 25 units in the last quarter through management contracts and capital-safe formulae.
On the stock exchange market, Meliá’s shares sell at 8.05 euros each.
Original article: Expansión (by Y. Blanco)
Translation: AURA REE
Source: AURA Real Estate Experts