Melia Hotels' Q1 Was Very Poor In Line With Q4, CEO Says

By Dayeeta Das
Melia Hotels' Q1 Was Very Poor In Line With Q4, CEO Says

Spanish hotel chain Melia Hotels has experienced a very poor first quarter of 2021, similar to the previous quarter when the company reported a steep loss.

"We need financial support, the sector is in agony," chief executive Gabriel Escarrer said on Wednesday at a business conference in Madrid.

The Mallorca-based firm posted a net loss of €126 million ($151 million) in the fourth quarter of 2020, while revenue slumped 76% to €98 million as COVID-19 travel restrictions devastated the tourism industry.

The company is expected to release its first-quarter results on 5 May 2021.

International tourism to Spain plunged 80% to 19 million visitors last year - the lowest since 1969 - as coronavirus curbs took their toll.


In March of this year, the hotel chain filed a complaint against the Spanish government with an administrative court seeking €116 million in damages incurred due to last year's COVID-19 restrictions.

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