MELIÁ HOTELS: MESSAGES FROM THE ROADSHOW (ANÁLISIS BANCO SABADELL)
Highlights from the company’s meeting with investors today: Demand: the Russia-Ukraine war led, at first, to a -10% drop in bookings (day on day) vs. the positive performance recorded in the week prior to the conflict. However, two weeks later, bookings recovered to pre-conflict levels (positive). In this regard, 1Q’22 will continue to be impacted by Omicron (and partly by geopolitical tensions). Nonetheless, in general terms, in 2Q’22, demand is performing well (ahead of Easter), with the Canary Islands leading the way and the Balearic Islands in positive territory (vs. 2019), although the peninsular coast would perform slightly worse. As for 3Q’22, the company reiterates what was stated in its FY2021 results, with bookings returning to 2019 levels, especially in the average price (with occupancy levels still standing below). In any case, it should be noted that the quality of current bookings is somewhat lower because cancellation policies are laxer. By segments, the resort segment would be the main beneficiary, although the urban segment (especially cities with a leisure component) is starting to show signs of recovery.
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®.
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