Melia’s Q3 results came in above the consensus, mainly explained by a further recovery in occupancy and cost efficiencies. While the group’s net debt ended up missing the consensus, the asset disposals currently being discussed should help repair the company’s debt profile in the coming months. Up-to-date booking momentum remains strong, and occupancy is expected to climb further to be back at its pre-crisis level next year. We have upgraded our 2023 EBITDA by 4% but there is no change in our bo ....

03 Nov 2023
Consensus-beating Q3; debt profile repair required

Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Consensus-beating Q3; debt profile repair required
- Published:
03 Nov 2023 -
Author:
Yi Zhong -
Pages:
3 -
Melia’s Q3 results came in above the consensus, mainly explained by a further recovery in occupancy and cost efficiencies. While the group’s net debt ended up missing the consensus, the asset disposals currently being discussed should help repair the company’s debt profile in the coming months. Up-to-date booking momentum remains strong, and occupancy is expected to climb further to be back at its pre-crisis level next year. We have upgraded our 2023 EBITDA by 4% but there is no change in our bo ....