Banc Sabadell | The President of Melia Hotels fixed the Asia-Pacific region as the priority, expecting that it will represent 40% of future growth.
With respect to the entry in force of Title III of the Helms Burton, by which the US can denounce in US courts companies which benefit from property in Cuba which was expropriated by the state, Meliá maintains its wager on the country and expects no impact from this measure. Lastly, he reiterated its strategy of continuing to grow through management contracts and a non-intensive capital policy. On the other hand, he announced a single dividend payment for 2018 of 0.183 euros/share (+8.9% vs 2017; in line with what was expected), date ex date 5 July and date of payment 9 July. Yield 2.2%.
Meliá manages 34 hotels there from which it receives 4% of its EBITDA. It is worth highlighting that those hotels are run under a management agreement with the Cuban government, but they are not its property.