Q1 beat, guidance hike boost Melia Hotels shares
** Shares in Melia Hotels MEL.MC rise 2.4% after Q1 net result swinging to profit and FY EBITDA guidance raise
** The Spanish hotels group reports Q1 net profit of 5.5 million euros ($5.9 million), while EBITDA surges almost 26% y/y to 97.9 million euros
** The group also raises its FY EBITDA guidance to at least 525 million euros ($563.3 million), based on strong tourism expectations
** Renta 4 Banco says main figures are above consensus and its own forecasts
** GVC Gaesco deems the results good and points to the upward revision of the EBITDA target, significant growth in RevPAR largely driven by prices, and the metric's guidance confirmation of low single-digit growth by year-end
** Shares of Melia outperform the IBEX35 index .IBEX, which rises 0.4%
($1 = 0.9280 euros)
Reporting by Marta Serafinko
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
