A good summer season and optimism looking ahead to year-end: Buy Meliá (T. P. 7,81 euros)

Bankinter | Meliá (MEL) has flagged that the occupancy rates this summer have remained slightly below those of 2019 – an extraordinary year for Spanish tourism. However, there has been a hike in tariffs of “two high digits”, so revenues could beat those registered in the summer of 2019. The company has also expressed optimism with respect to the final quarter of the year. The booking figures reflect a continuing…


Meliá’s revenues recover pre-Covid levels; capacity for price hikes will offset costs: Buy (T.P. 7,81 euros/share)

Bankinter |Meliá’s revenues recover pre-Covid levels and the strong capacity for price hikes at its hotels will allow for the increase in costs to be offset to a large extent. We foresee this trend extending at least over the coming months. For that reason, we are raising our recommendation to Buy. This is after tacitly lowering it to Neutral barely a month ago, given the doubts with respect to the…