Meliá Hotels doubles profit in H1, 2016

Meliá Hotels International’s (MHI) earned €45 million in the first half of 2016, double the figure achieved in the same period last year.

It has also experienced six years of uninterrupted quarterly improvements in RevPAR, which increased 14.2 per cent in the first six months of 2016.

MHI combatted double digit decreases in United Kingdom hotels, which it attributed to the impact of terror attacks in Paris and Brussels, as well as the uncertainty leading up to the Brexit vote, with a successful sales strategy which led to improved results in the second quarter.

The Mediterranean and Canary Island division has still not seen any significant impact on bookings from the UK, as a result of Brexit, with an unprecedented increase of 30.9 per cent in RevPAR, underpinned by demand from major markets such as the UK, Germany and Russia.

Gabriel Escarrer Jaume, vice chairman and CEO of Meliá Hotels International, commented: “I am proud to present these extraordinary results for Meliá Hotels International in our 60th year. These have been driven at operational level by the successful repositioning of our hotels, investment in assets and strategic markets, and a successful sales strategy (with a notable performance from melia.com). Leading to, in financial terms, an enviable strength that will sustain our growth in the future, and that has entitled us to become part of the IBEX 35 Spanish stock market index.”

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