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Meliá Hotels provides FY'18 forecast

Meliá Hotels International SA expects its global revenue per available room for full year 2018 to increase by an estimated mid-single-digit in constant currency basis, while forecasting a positive year aligned with general market consensus.

The Spanish hotelier plans to open about 23 hotels in 2018, with 67 being in the pipeline. A total of more than 16,000 rooms are expected to flow into its portfolio over the next two years, according to a release. The company anticipates its total investment in Spain to amount to upward of €100 million.

In reporting its results for 2017, the company said its net profit totaled €128.7 million, up 27.8% year over year, while revenues came to €1.89 billion. The hotelier reported a 5.6% increase in its full-year 2017 RevPAR, attaining 30 consecutive quarters of higher RevPAR above the industry average.