Meliá Hotels returns to the IBEX-35

Meliá Hotels International (MHI) will form part of the Ibex 35 Spanish stock market index from August 8th, following the departure of FCC. The company was highly commended in a review conducted by the Technical Advisory Committee, published by the Spanish National Securities Market Commission.

With a market capitalisation of approximately €2.400 million, Meliá Hotels International returns to Spain’s leading stock market index. Companies included in the index obtain greater market visibility, as well as increased access to TIER 1 investment funds and investment funds linked to the Ibex index.

The events that have enabled the Company, led by Gabriel Escarrer, to return to the Ibex 35 include an improvement in the liquidity of stock based on an increase in capital and the free float, due to the consolidation of the company balance sheet and the steady progress of financial matters over recent years.

Gabriel Escarrer Jaume, Vice Chairman and CEO of Meliá Hotels International: “In 2016, our 60th anniversary, I am proud to present these extraordinary results for Meliá Hotels International, driven at the operational level by the successful repositioning of our hotels, investment in assets and strategic markets, and a successful sales strategy (with a notable performance from melia.com), and in financial terms by an enviable strength that will sustain our growth in the future, and that has entitled us to become part of the IBEX 35 Spanish stock market index"

Meliá Hotels doubles profit in H1

The hotel chain earned €45 million in the first half of 2016, double the figure achieved in the same period last year, and also achieved that without the sale of hotel assets. Melia Hotels increased RevPAR (revenue per available room) by an average of 9.4% (14.2% if managed hotels are included), 82% of which is attributable to price increases, culminating in the outstanding achievement of 6 consecutive years of RevPAR improvement in every quarter.

With regard to international expansion, Meliá signed 5 new hotels during the second quarter: the Meliá Almaty in the capital of Kazakhstan, the Gran Meliá Maldives, the Melia Serengeti Lodge in Tanzania, the Melia Salamansa, the fifth hotel in Cabo Verde, and the Melia Pekanbaru in Indonesia. The company maintains its ambitious targets to add from 20 to 25 new hotels over the year, while also facing a challenging schedule for hotel openings which has seen seven new hotels opened recently: the Sol Taghazout (Morocco), the Innside Aachen (Germany) faces the ME Miami, the Sunshine Coast Atlantis (Tenerife), the Innside New York Nomad, Melia Braco Village in Jamaica, Sol Kuta Bali, Sol Calas de Mallorca, Melia Makassar in Indonesia, and Meliá Yangon in Myanmar. 

 

Source: Property Magazine