Meliá Hotels International (MEL) Q3 2025 earnings summary

Executive summary

• Q3 revenues excluding capital gains rose 5.6% year-over-year to €616.6M, driven by a strong summer season and a 2% increase in available rooms in the Owned and Leased portfolio.

• EBITDA excluding capital gains for Q3 reached €192.2M, up 2.1% year-over-year, with a margin of 27.2% year-to-date.

• Net profit for the first nine months was €177.7M, a 27.4% increase year-over-year, with attributable net profit at €150.9M, up 27.2%.

• Net debt decreased by €61.6M since year-end 2024, standing at €2,175.0M, with net debt excluding leases at €763.0M.

• The company signed 34 new hotels YTD, surpassing its annual target, and incorporated the MiM hotels into its luxury portfolio.

Financial highlights

• Consolidated revenues for the first nine months reached €1,607.7M, up 4.1% year-over-year.

• EBITDA for the first nine months was €440.2M, up 2.7% year-over-year.

• EPS for Q3 was €0.34 (flat year-over-year); for 9M, EPS was €0.68, up €0.15 year-over-year.

• Operating cash flow in Q3 exceeded €90M.

• Dividend per share increased to €0.1463 from €0.0935 year-over-year.

Outlook and guidance

• Positive demand outlook for Q4 and year-end, with strong international and European tourism trends.

• MICE segment shows a 12% increase in contracted value for 2026 events versus the prior year.

• Forecast to close 2025 with mid-single-digit systemwide RevPAR growth, supported by both rate and occupancy.

• Canary Islands and urban hotels in Spain expected to perform strongly in Q4; UK and Germany also forecasted to post positive results.

• Anticipates a strong winter season in sun-and-beach destinations and robust corporate/events activity in urban markets.