Melia Hotels International SA (MEL.SG)

Melia Hotels quarterly profit soars as revenue tops pre-pandemic levels

MADRID (Reuters) -Spanish chain Melia Hotels International on Monday posted a second-quarter consolidated net profit of 46.2 million euros ($50.9 million), up sharply from just 3.7 million euros a year ago, as the global appetite for travel pushed revenue above pre-pandemic levels. Total revenue from all markets in the quarter rose 9.3% from 2022, when the tourism sector was still hurting from some COVID-19 restrictions, to 513.7 million euros, and 4.7% above 2019. The average room rate was 25.5% higher than in 2019 in the second quarter, and the occupancy rate for Melia hotels in Spain was higher than in other markets, the company added.