Skift Take
The hotel group struck a billion dollars in revenue in 2021, narrowed its losses and predicts a “historic year for resort tourist” in 2022– however the caution for the future is how Russia’s intrusion of Ukraine will affect its company.
Matthew Parsons
A steady reopening of global tourism assisted Spain’s Melia Hotels lower its net annual loss by 68 percent in 2021, the company stated on Monday, as it forecast the recovery from the Covid-19 pandemic would continue to gather steam this year.
The Mallorca-based group’s net loss narrowed to $216.4 million in 2021 from $668.8 million a year previously, it stated, while earnings jumped 71 percent to $1 billion.
“Our 2021 outcomes reveal clear signs of healing in the industry, with a very considerable increase in our earnings quarter after quarter regardless of the effect of Omicron in December,” CEO Gabriel Escarrer stated in a statement.
Reservations for this summer already surpass 2019 levels and are at higher typical prices, the business said, adding that it expected 2022 to be a “historic year for resort tourist”.
Melia stated it was premature to offer a conclusive assessment of how Russia’s intrusion of Ukraine would impact its organization but stated any impact was likely to be restricted and would not overshadow the anticipated healing from the pandemic.
(Reporting by Nathan Allen; Modifying by Jan Harvey)
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