IMeliá is close to the break-even point and already exceeds
Feb 25, 2024 8:44:12 GMT 1
Post by account_disabled on Feb 25, 2024 8:44:12 GMT 1
IMeliá is close to the break-even point and already exceeds 2019 income thanks to the "revenge" effect of demand that challenges "inflationary tensions"
Meliá Hotels International presented its accounts for the first quarter of 2023 this Thursday, approaching the break-even point (-0.5 million euros) , according to the results reported to the CNMV after the market closed. Compared to the losses of 59.3 million in the first quarter of last year and after finally registering profits of 120 million in the whole of 2022 , the results of the listed company between January and March confirm "the recovery of tourism worldwide, not not only vacation and urban leisure, but also Group and business (MICE segment)", according to the executive vice president and CEO of Meliá Hotels International, Gabriel Escarrer Jaume. Revenues for the first quarter reached 396.1 million euros, an increase of 45.9% compared to the first quarter of 2022 and reaching the figures for 2019 (0.8% more than then). Operating expenses decreased by 26.4% compared to the previous year.
On the other hand, the average revenue per available room (RevPAR) increased by 43% to 64.8 euros. During the first quarter of the year, post-IFRS16 net debt has increased by 63.5 million euros, reaching 2,736.5 million at the end of March. The priority continues to be to continue debt reduction, through operating cash flows and asset rotation operations Country Email List on which work continues. EBITDA stood at 77.9 million euros , compared to 22.7 million in the same period a year ago. The hotel company run by Escarrer has a liquidity position of 360.5 million euros , including treasury and undrawn lines of credit. These are the main figures from the results of the first quarter of 2023: It is close to the break-even point: -0.5 million euros in the first quarter of 2023, compared to losses of 59.3 million last year.
Revenue million euros, a growth of 45.9% compared to the first quarter of 2022. Ebitda : 77.9 million euros, compared to 22.7 million in the same period a year ago. RevPAR or Average Revenue per Room : increased 43%. The success of the 'All-inclusive' model forces hotel companies to differentiate themselves in a segment that increasingly tends towards luxury " The behavior of demand maintains the 'revenge' or 'bottle of champagne' effect that began after the withdrawal of the restrictions caused by the pandemic, although a more structural behavior of demand seems to be consolidated, reflecting a growing priority of travel in living and consumption habits in the main markets, which even challenges inflationary tensions , the increase in interest rates, turbulence in markets such as energy and the threat of slowdown in some markets," adds the executive.
Meliá Hotels International presented its accounts for the first quarter of 2023 this Thursday, approaching the break-even point (-0.5 million euros) , according to the results reported to the CNMV after the market closed. Compared to the losses of 59.3 million in the first quarter of last year and after finally registering profits of 120 million in the whole of 2022 , the results of the listed company between January and March confirm "the recovery of tourism worldwide, not not only vacation and urban leisure, but also Group and business (MICE segment)", according to the executive vice president and CEO of Meliá Hotels International, Gabriel Escarrer Jaume. Revenues for the first quarter reached 396.1 million euros, an increase of 45.9% compared to the first quarter of 2022 and reaching the figures for 2019 (0.8% more than then). Operating expenses decreased by 26.4% compared to the previous year.
On the other hand, the average revenue per available room (RevPAR) increased by 43% to 64.8 euros. During the first quarter of the year, post-IFRS16 net debt has increased by 63.5 million euros, reaching 2,736.5 million at the end of March. The priority continues to be to continue debt reduction, through operating cash flows and asset rotation operations Country Email List on which work continues. EBITDA stood at 77.9 million euros , compared to 22.7 million in the same period a year ago. The hotel company run by Escarrer has a liquidity position of 360.5 million euros , including treasury and undrawn lines of credit. These are the main figures from the results of the first quarter of 2023: It is close to the break-even point: -0.5 million euros in the first quarter of 2023, compared to losses of 59.3 million last year.
Revenue million euros, a growth of 45.9% compared to the first quarter of 2022. Ebitda : 77.9 million euros, compared to 22.7 million in the same period a year ago. RevPAR or Average Revenue per Room : increased 43%. The success of the 'All-inclusive' model forces hotel companies to differentiate themselves in a segment that increasingly tends towards luxury " The behavior of demand maintains the 'revenge' or 'bottle of champagne' effect that began after the withdrawal of the restrictions caused by the pandemic, although a more structural behavior of demand seems to be consolidated, reflecting a growing priority of travel in living and consumption habits in the main markets, which even challenges inflationary tensions , the increase in interest rates, turbulence in markets such as energy and the threat of slowdown in some markets," adds the executive.