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Meliá Hotels International (BME:MEL) delivered strong financial results in Q2 2025, with significant revenue growth and a substantial increase in net profit, according to the company’s latest investor presentation. The Spanish hotel group continues to benefit from robust travel demand while executing its strategic shift toward an asset-light business model and expanding its luxury portfolio.
Quarterly Performance Highlights
Meliá reported consolidated revenues of €545.5 million in Q2 2025, representing a 4.9% increase compared to the same period last year. EBITDA rose to €152.6 million, up 7.2% year-over-year, while earnings per share reached €0.31, an increase of €0.15 from the previous year.
For the first half of 2025, the company achieved revenues of €986.6 million (excluding capital gains), a 3.1% increase, while attributable net profit surged by 72.4% to €75.4 million compared to H1 2024.
As shown in the following financial snapshot from the company’s presentation, Meliá has demonstrated consistent improvement across key performance indicators:
The company’s RevPAR (Revenue Per Available Room) continued to show healthy growth, increasing by 5.8% in Q2 to €89.5, driven by both improved occupancy rates and higher average room rates (ARR). This growth builds on the strong recovery trajectory that began in 2022, with yearly RevPAR now significantly exceeding pre-pandemic levels.
Regional performance varied across markets. Spain showed the strongest results with RevPAR growth of 5.83% in Q2 2025, while the Americas region experienced a 3.05% decline in the same period, primarily due to lower occupancy rates.
Strategic Initiatives
Meliá continues to execute its strategic shift toward an asset-light business model, with managed and franchised properties now representing 66% of its portfolio. This transition is designed to enhance return on investment while reducing capital intensity.
The company’s brand portfolio is strategically distributed across luxury (13%), premium (52%), and essential (35%) segments, with a growing emphasis on the higher-end categories. As illustrated in the following brand portfolio breakdown:
The luxury segment includes brands such as Gran Meliá Hotels & Resorts, The Meliá Collection, ME by Meliá, and Paradisus by Meliá, which collectively represent 55 hotels with 14,415 rooms:
The premium segment, comprising Meliá Hotels & Resorts, ZEL, and INNSIDE by Meliá, forms the core of the company’s portfolio with 177 hotels and 48,832 rooms:
The essential segment, including Sol by Meliá and Affiliated by Meliá, rounds out the portfolio with 133 hotels and 30,252 rooms:
Geographically, Meliá maintains a strong presence in Spain (49% of hotels) while continuing to expand internationally. The Americas region accounts for 27% of the portfolio, Europe, Middle East, and Africa represent 22%, and Asia-Pacific comprises 2%. The company has a robust pipeline of over 70 new hotels with more than 12,954 rooms in development.
The following map illustrates Meliá’s global footprint:
Digital Transformation and Customer Loyalty
Digital channels have become increasingly important for Meliá, with the company’s direct channels now representing over 50% of centralized sales. The MeliáRewards loyalty program has grown to more than 17 million members, while the MeliáPRO platform connects the company with over 400,000 corporate clients and 55,000 travel agencies.
As shown in the following overview of the company’s loyalty programs:
"Our first semester results are strong as our operations remain solid," stated CEO Gabriel Esquerrre, according to the earnings call transcript. He emphasized the robust demand from international tourists, particularly from the U.S. market to Europe, which has been stronger than ever.
Forward-Looking Statements
Meliá reaffirmed its full-year guidance, expecting RevPAR to grow in the mid-single-digit range with an improvement in EBITDA margins by 100 basis points. The company targets €200 million in free cash flow and anticipates a strong summer season with resort bookings outpacing previous years by 5%.
The company continues to focus on reducing its debt, which stood at €2,208.4 million at the end of Q2 2025, representing a reduction of €28.2 million compared to the end of 2024.
Meliá’s stock closed at €7.95 on September 12, 2025, trading below its 52-week high of €8.23 but well above its 52-week low of €5.62. According to the earnings report, the stock saw a modest increase of 0.7% following the announcement of Q2 results.
With its strategic focus on luxury and premium segments, ongoing digital transformation, and shift toward an asset-light business model, Meliá appears well-positioned to capitalize on the continued recovery in global travel demand, despite potential regional variations and macroeconomic uncertainties.
Full presentation:
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