Spanish hotel group Melia on Thursday lifted its 2024 core profit guidance to at least 525 million euros ($563.3 million) on expectations tourism will remain strong, and said it would resume dividend payments for the first time in four years. The Mallorca-based company had previously forecast core earnings before interest, tax, depreciation and amortisation (EBITDA) of 500 million euros. Having not paid a dividend since 2019 due to the effects of the COVID-19 pandemic, Melia said it would resume payments, distributing 20 million euros to shareholders.
Jeremy Hunt has urged the Bank of England not to cut interest rates too quickly after Governor Andrew Bailey opened the door to a steep fall in borrowing costs.