($436 million), up from 271 million a year earlier, when the tourism sector was still affected by COVID-19 restrictions, and about 1% higher than before the pandemic. The Mallorca-based group's net attributable loss dwindled to around 500,000 euros from 59.3 million euros in the same period last year. Melia ended last year with a profit after two years of pandemic-induced losses. Melia said it expected to continue to increase its room rates in the summer after hiking them by double digits in key markets during the Easter week. In the luxury segment, rates have risen 12% so far this year.
CEO Gabriel Escarrer likened pent-up demand to a "champagne
bottle", expecting the effect to become "palpable" in the second
quarter among tourists from China, Japan and Australia mainly
staying at Melia's hotels in Southeast Asia.
This showed "a growing priority of travel in lifestyle and
consumption habits in major markets, defying even inflationary
pressures, rising interest rates, turbulence in markets such as
energy and the threat of a slowdown in some markets", he added.
First-quarter earnings before interest, taxes, depreciation
and amortisation rose 243% year-on-year to 78 million euros.
Sales for corporate events at urban hotels in Spain
increased 67% from last year and doubled in the Caribbean, the
company said, adding it expected better event sales in France
and Italy during the second quarter.
($1 = 0.9084 euros)
(Reporting by David Latona and Corina Pons; Editing by Andrei
Khalip, Kirsten Donovan)
