Melia beats 2024 EBITDA target, sees better year ahead (updated)

Melia Hotels International SA

22/01/2025 12:16

(Adds revenue, previous EBITDA target, details)
       MADRID, Jan 22 (Reuters) - Spain's Melia Hotels  MEL.MC 
booked higher-than-projected earnings before interest, taxes,
depreciation and amortization above 525 million euros ($548
million) in 2024, Chief Executive Gabriel Escarrer said on
Wednesday.
    This year will be better for the company than 2024, he told
a news conference in Madrid, expecting high single-digit growth
in revenue per available room.
        Melia, one of Spain's largest hotel operators with a
global presence, had targeted an EBITDA worth around 500 million
euros for 2024.
  
        The company has reaped benefits from 400 million euros
it invested in new hotels during 2023 and 2024, including 235
million euros in Spain alone, Escarrer said. The company will
open 70 new hotels through the end of 2026, focusing on the
luxury market.
  
    ($1 = 0.9577 euros)

 (Reporting by Corina Pons, editing by Inti Landauro)
 ((Inti.Landauro@thomsonreuters.com;))