Meliá - Third Quarter Results 2023
Gabriel Escarrer Jaume, Executive Chairman and Chief Executive Officer of Meliá Hotels International:
“The third quarter confirmed a solid recovery in tourism for Spanish holiday and urban destinations, as well as for the main European “bleisure" urban destinations, with average rates continuing to grow at around a mid-single digit and somewhat better occupancy figures, even though there is still a promising room for improvement to this respect, especially in European cities. All of this led to a global improvement of 19.5% in RevPAR during the year to date. Another positive development was the recovered strength of Asian domestic demand, both in the holiday and in the business segments, in addition to a more gradual return of international travellers to that continent.
Together with the solid results obtained, the trend recorded between July and September left us a few essential clues to understand the evolution of the business, such as an improved market confidence, which translated into a rise in advance sales and a steady decline in booking cancellation rates, accompanied by a surge in last-minute sales, or the return of a healthy mix of nationalities among our customers, with a noteworthy increase in the US market towards European cities and Spanish holiday destinations. We are also happy to confirm that 2023 is shaping up as the year of the recovery for the Corporate and MICE (Meetings, Incentives, Conferences, and Exhibitions) segments, with turnover figures already above those recorded before the pandemic and an excellent outlook for 2024, and also the consolidation of our digitalisation efforts as a competitive advantage, with our Melia.com channel already accounting for more than 46% of all centralised sales of the Group.
To summarise, I would say that, despite a macroeconomic context which is still causing some uncertainty, our Company maintains a positive outlook, with a level of reservations on the books above those recorded in the same dates of the previous year, and improvement prospects in such important destinations for the months to come as are Mexico, Dominican Republic, Canary Islands and Cape Verde, together with the major European cities and Asian destinations."
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