Top Stories
Spain’s Melia books 24% 9-month net profit increase as summer sales soar
Global Banking & Finance Review®
Company
MADRID (Reuters) – Spain’s largest hotel chain, Melia Hotels, on Monday said its net profit over the first nine months of the year rose 24% to 118.6 million euros ($126.83 million) beating analysts’ expectations, thanks to a good summer season.
MADRID (Reuters) – Spain’s largest hotel chain, Melia Hotels, on Monday said its net profit over the first nine months of the year rose 24% to 118.6 million euros ($126.83 million) beating analysts’ expectations, thanks to a good summer season.
The company also said it reaped the benefits of its investments in luxury rooms in holiday resorts.
Revenues at the hotel chain, which offers more than half of its room as premium ones, rose 4.5% in the year to September to 1.54 billion euros, in line with analysts’ estimates.
The Mallorca-based company’s third-quarter sales were 584 million euros, 2.7% higher than in the same period of 2023, the company added.
Analysts, on average, had expected net income of 110 million euros and sales of 1.54 billion euros during the first nine months of the year.
($1 = 0.9351 euros)
(Reporting by Corina Pons, editing by Inti Landauro)
Net profit is the amount of money a company earns after all expenses, taxes, and costs have been subtracted from its total revenue. It is a key indicator of a company's profitability.
Luxury rooms are high-end accommodations that offer premium amenities and services, often found in upscale hotels and resorts. They are designed to provide a superior guest experience.
Revenues refer to the total income generated by a company from its business activities, including sales of goods and services, before any expenses are deducted.
A financial analyst is a professional who evaluates financial data, trends, and investment opportunities to provide insights and recommendations for businesses and investors.
A holiday resort is a destination that offers various recreational facilities and accommodations for vacationers, typically located in scenic or attractive areas.
Explore more articles in the Top Stories category
