Renta 4 | Consultancy STR and Cushman & Wakefield have carried out a study on the hotel sector in Spain, comparing estimates for 2021e with the figures for 2019. Revenue per room (RevPar) in 2021e will be around 43% of the 2019 level, mainly due to the decline in occupancy (-43,4 pp vs 2019 to 36%) as prices would remain around 2019 levels. At Renta 4 Banco we expect less of a…
According to the China Tourism Academy, more than 90% of hotels and tourist attractions in the country have reopened along with around 60% of travel agencies after containing the pandemic. Against this backdrop, Meliá Hotels has resumed work on an expansion plan which aims to double its presence in China within two years, from 5 to 10 hotels in operation. The reactivation of the domestic market have encouraged the company to open an ultra-luxury urban resort in Chengdu this week.
The Spanish hotel chain 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%.
Santander | To adopt a more optimistic view of the price, we would like to see Meliá increasing its debt exposure to the dollar and solves its profitability problems in leased assets.
Spain is well on track for another record tourism year after welcoming 36.3 million tourists in the first half of 2017, a 11.6% increase from a year earlier, according to the Tourist Movement on Borders (Frontur) survey, released by the National Statistics Institute.
Sonia Ruiz de Garibay (GVC Gaesco) |Spain’s hotel chains NH Hoteles and Meliá are reaping the benefits of their restructuring and the adjustments made in the areas of operating costs and debt reduction. So these stocks are a good bet for locking in profits thanks to their attractive trading ratios.
MADRID | The Innside hotels respond to increasing demand from discerning and sophisticated city travellers prompted by the country’s economic growth.
MAJORCA | The partnership represents the entry of a newly created 100% Chinese hotel brand in Europe, as well as the further consolidation of the expansion strategy of Meliá Hotels International in China.
LONDON | CEO and Vice Chairman of Meliá Hotels International, Gabriel Escarrer signed an agreement for what will become the third hotel for the Majorca-based company in the UK: the Innside Manchester Hotel. Meliá Hotels International is the world’s largest resort hotel company and the largest hotel chain in Spain, and is third in the European ranking. The deal confirms its interest in the UK, “one of the most important markets…