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Melia Hotels half-year profits up 7.2% to €61.8m

Spanish chain Melia Hotels saw half-year net profits rise by 7.2% to €61.8 million despite depreciation of the US dollar against the euro.

The company expects healthy growth in Mediterranean resorts in this summer, compatible with the recovery of Turkey and North African destinations.

Melia reported a 4.7% rise in advance sales for the peak summer quarter and expects to improve 2017 figures in Spanish resorts.

The chain remains committed to Spain, with three new hotels opened in Sitges, Estepona and Calvia.

The company opened a total of 11 properties in the first six months of the year and plans to open a further 12 by the end of 2018.

The growth pipeline includes 63 hotels with a total of 16,000 rooms.

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