Melia Eyes Sale Of Some Caribbean Assets To Reduce Debt

By Dave Simpson
Melia Eyes Sale Of Some Caribbean Assets To Reduce Debt

Hotel chain Melia is considering selling some assets in the Caribbean to reduce its debt by between €120 million and €200 million, its CEO Gabriel Escarrer Jaume said on Tuesday 28 February.


"At this time we are not in a position to provide a specific location for the disposal of assets," he told a news conference to present 2022 earnings.

The Mallorca-based group returned to profit in 2022 after two years of losses thanks to resumption of global travel and higher room rates.

It reduced its net debt by about €76 million last year to €1.21 billion , the CEO said.

Southeast Asia

Meanwhile, Melia expects its operations in Southeast Asia to strongly benefit from pent-up demand from Chinese tourists, who will be able to travel again this summer after three years of COVID-19 restrictions.


"The biggest beneficiaries of this demand are Vietnam, Thailand, Indonesia and Cambodia," Escarrer said, adding that Melia was already the second-largest hotel chain in Vietnam and expanding there.

Read More: Melia Hotels Returns To Profit In 2022, Expects Further Travel Rebound

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.