Melia Reports €7.5 Million First-Half Loss Following Cuba Operations Exit
Financial Performance and Impact of Cuba Exit
MADRID, July 30 (Reuters) - Spanish hotel group Melia on Thursday reported a net loss of €7.5 million due to the cessation of its operations in Cuba.
Key Financial Highlights
Here are the details:
Revenue and Profit Overview
• Revenues of Spain's largest hotel chain, which also operates across Europe, Asia and the Caribbean, reached €1.04 billion euros, 7.1% more than the same period last year.
• The company's profit from continuing operations was €83.5 million in the first half of 2026, in line with last year.
Impact of Cuba Operations Exit
• However, it also booked provisions of €79.4 million related to suspending its Cuban operations.
• Its consolidated net profit was €4.1 million.
Market Expectations and Performance Metrics
• Revenue was in line with analysts' expectations, according to an LSEG survey.
• Revenue per room in the first half rose 11.7% from a year earlier.
Future Outlook
Summer Season Projections
• Melia expects a stronger summer season at its resorts in Spain and other countries, with bookings for the third quarter growing at double-digit rates compared to last year.
Details on Cuba Operations Cessation
Hotel Closures and Contributing Factors
• Melia ceased operations of its 34 hotels in Cuba between June and July amid tighter U.S. sanctions and a deepening economic crisis.
Currency Exchange Rate
($1 = 0.8695 euros)
(Reporting by Corina Pons, Editing by Victoria Waldersee)
