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Meliá Studies Sales of Hotels to Reduce Debt

The hospitality group assures that trends in hotel bookings “invites optimism” when presenting its first-quarter results.

Hotel tryp Chamartin Madrid fuente Melia 1024x534 1

The Meliá Hotels International group continues to study the sale of assets to maintain liquidity and reduce debt. The plans were acknowledged during the presentation of results for the first quarter of 2021 sent to the CNMV. The hospitality group posted a loss of 130.9 million euros in the first quarter of 2021, still due to the pandemic, compared to a profit of 79.7 million euros in the same period of 2019.

In its annual report, Meliá had already opened the door to a potential sale of assets. The group acknowledged that it continues to “analyse alternative ways to obtain liquidity and reduce debt, such as the sale of assets with the possibility of maintaining the management contracts.”

At the end of March, the firm’s liquidity, including cash and undrawn credit lines, amounted to approximately 230 million euros.

Now, the group is closing in on asset sales to reduce debt, envisioning a total of between 150 million and 200 million euros, “a transaction that the company is confident can materialise soon.”

Read the full article in Spanish


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