Melia : Q3 2020 in the red and negative prospects. Reduce maintained, target price adjusted to € 3.0
>Group revenues down 79% in Q3 - Melia released its Q3 2020 results yesterday evening. Group revenues were down 79% y-o-y to € 111m (-94% in Q2) of which -80% for the owned/leased network and -81% for the managed network. This figure is 4% above our expectations. In terms of RevPAR trends by geographic area, the situation has clearly improved in the EMEA region (-67% in Q3 vs -84% in Q2) and Spain (-57% in Q3 vs. -84% in Q2), but the amplitude of the decline remains a...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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