Meliá Reports Second Quarter Results

Meliá earned 49M in the 2nd quarter and confirmed its return to normal operating levels

Gabriel Escarrer Jaume, Meliá Hotels International Chairman and Chief Executive Officer:

“The Group's performance in the first half of the year continued to benefit from the recovery dynamics that began 15 months ago now, with the second quarter recording a very positive level of revenue, and so far, we have not seen any signs of a slowdown despite macroeconomic uncertainty. The steady improvement in demand, with 34.56% more reservations this season at our Spanish holiday hotels–in monetary terms–as compared to the same dates in 2019, also surpassing in double digits those of 2022, together with the positive outcome of marketing campaigns such as the recent “Wonder Week"– which resulted in 18% more reservations than the previous year–allow us to reaffirm, with cautious optimism, our expectations to achieve at least 475 million in EBITDA for 2023, also surpassing the revenue and net profit recorded in the previous year. The MICE business has recovered very well, too, including important segments such as Groups, Conventions, Events and Incentives, as well as the Corporate segment, where Meliá has fewer rooms, and which is the least dynamic. We also witnessed the total normalisation of the Tour Operation segment, which is crucial to complement our direct sales and already accounted for more than 46% of our total centralised sales. The MICE business confirmed to date is +30% higher than that registered on the same period of 2022.

As the global tourism industry continues to grow, driven by the increasing priority that post-pandemic consumers are placing on travelling over other expenses in goods and services, our Company is also benefitting from a strategy that has enabled it to build on its strengths, such as its leadership in the holiday segment or its digital and distribution capabilities, and move forward in its transformation. One example of this is our expansion strategy under “asset-light" models which allow us to grow in a more dynamic, strategic manner, relying less on financial and real estate leverage and increasing the value of our brands, our management and distribution system, and our positioning in terms of Sustainability and people.

By end-June, our Company also took a great step forward in Corporate Governance, as we completed the generational handover at the helm of the Group through an orderly and well-planned transition. Combined with the reinforcement and partial renewal of the Executive Committee, this shall ensure the continuity of our solid values while also strengthening us in the face of the new challenges of the context. All of this indicates that we are on the right track, moving closer to a full recovery from Covid-related impacts and towards building a more profitable, sustainable and resilient company, as envisaged in our Strategic Roadmap until 2024."

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