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.
Details
"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.
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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.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
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