Melia : A poor Q4 2020 expected, but hopes of a recovery in the summer season. Target price adjusted to € 5.0
>Q4 2020 sales forecast down 75% y-o-y - Melia’s Q4 results should not bring any major surprises in terms of its quarterly operating performance, but we expect significant comments on the trend in reservations for the summer season given the mass vaccination programmes in Europe, notably in the UK which is a key market for the group (representing almost 15% of its demand on our estimates). For FY 2020, we forecast group sales of € 535m, down 70% y-o-y with a decline o...Melia Hotels International is the parent company of a group engaged in the acquisition, management and operation of hotels. Co. operates its hotel network in Germany, Argentina, Brazil, Bulgaria, Cabo Verde, Chile, China, Costa Rica, Croatia, Cuba, Egypt, Spain, United States, France, Greece, Netherlands, Indonesia, Italy, Luxembourg, Malaysia, Mexico, Panama, Peru, Portugal, Puerto Rico, United Kingdom, Dominican Republic, Singapore, Switzerland, Tunisia, Uruguay, Venezuela and Vietnam under the followings brandnames: Paradisus Resorts®, Melia Hotels & Resorts®, TRYP Hoteles® and Sol Hotels & Resorts®.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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