Meliá Hotels International (MEL) Q3 2025 earnings summary

Executive summary

• Achieved strong summer season with RevPAR up 5.6% year-over-year and revenue excluding capital gains up 5.6% for Q3 and 4% for the nine-month period.

• Resilient demand in both domestic and international tourism, especially in leisure and premium segments.

• Events segment bookings for 2026 up 12% compared to the same date in 2024.

• Positive outlook for the remainder of the year, expecting mid-single-digit RevPAR growth.

Financial highlights

• Q3 revenue excluding capital gains: €616.6M (+5.6% YoY); nine-month revenue: €1,603.2M (+4% YoY).

• Q3 EBITDA excluding capital gains: €192.2M (+2.1% YoY); nine-month EBITDA: €435.7M (+2.3% YoY).

• Consolidated earnings as of September: €150.9M (+27.2% YoY).

• Net financial debt pre-IFRS 16: €763M as of September; operating cash generation exceeded €90M in Q3.

Outlook and guidance

• Forecasts mid-single-digit RevPAR growth for full year, supported by balanced rate and occupancy increases.

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

• Expects continued positive sector growth through year-end despite macroeconomic and geopolitical uncertainties.