Meliá Hotels International S.A., well-known Spanish hotel company based in Palma de Mallorca has managed to reduce its debt by € 271.6 million reaching € 892.1 million, closing the first half of the year with a positive financial data.
These figures were reported by Preferente, digital tourist portal providing news on hotels, travel agencies, airlines and other segments concernng the tourism industry, which informed that this sucessful performance was possible thanks to the fact that the group generated an operating cash flow of € 70 million, a sum that was entirely allocated to the reduction of losses.
Other data concern earnings, which in the first half of 2024 amounted to € 51.4 million, with consolidated revenues of € 960 million, which means five percentage points more than the previous year, while Ebitda was € 240.3 million, which is equivalent to +10% compared to 2023.
The CEO of the hotel group Gabriel Escarrer commented that the progress made in the reduction allows the budget forecasts to be confirmed, the first half of 2024 thus strengthens confidence not only in the company's favorable estimates in this summer period but also in the ability to meet the commitments for the end of the current year without problems.
In operational terms, a positive first half can be considered marked by the full recovery of both leisure, business and corporate segments prior to the pandemic, a trend which combined with the strength of rates allowed the group to record a double increase in RevPar which is identified with a + 13.2%
link https://www.ttgitalia.com/hotel/melia-semestre-positivo-e-riduzione-del-debito-CH20633302
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