Mallorca's Meliá profit falls 47.4% after Cuba exit
Mallorca, Spain: Meliá Hotels International’s net profit falls 47.4% to 93.5 million euros for the first nine months of the year. The hotel group says on Tuesday, 3 November, that ending its operations in Cuba has dealt the result a one-off hit of 79.8 million euros. Its third-quarter result, however, reaches 89.4 million euros, almost level with a year earlier.
Rooms bring in more money
Meliá’s revenue, excluding gains from asset sales, rises 7.3% to 1,707 million euros in the nine months to September. In the third quarter, it earns 134 euros per available room, up 25.9% on a year earlier. Occupancy reaches 74%.
More hotels on the way
Meliá has signed deals for 20 new hotels with 4,500 rooms and opened 17 hotels so far. It plans 24 openings in total by year-end. The company says bookings for the fourth quarter are ahead of last year by a double-digit percentage.
Source: Europa Press / Mallorca.com