Melia : Underlying trends remain favourable. Outperform recommendation maintained
>Changes to the consolidation scope and one-offs weighed on Q2 2023 revenue despite 11.7% RevPAR growth - Yesterday evening Melia Hotels reported Q2 results slightly below expectations. In our view, the gap stems from changes to the consolidation scope that had not necessarily been fully taken into account. Group revenue came to € 520m (vs ODDO BHF estimate: € 552m and the Visible Alpha consensus: € 538m). This represented just 1% growth yoy, due to changes to the co...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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