PALMA DE MALLORCA, Spain, 12 March 2025: Meliá Hotels International’s 2024 results reflect the general growth and consolidation trend in the global hotel industry, with a healthy return to normalisation after two years of accelerated growth.
For Meliá, this trend translated into a 4.4% increase in revenue excluding capital gains (EUR2,013 million) and a 10.7% improvement in Average Revenue Per Available Room (RevPAR), 75% of which was attributed to the improvement in the average rate during the year, while occupancy levels remained slightly below those recorded in 2019, leaving room for further growth.
The group’s EBITDA also surpassed expectations, reaching EUR575.4 million (EUR533.6 million excluding capital gains), and consolidated profit (EUR162 million) improved by 24.5% compared to 2023.
Meliá reduced its Net Financial Debt by nearly one-third and reached its goal of positioning its Net Debt/EBITDA ratio at 2.2x, a level similar to pre-Covid figures.
Direct booking channels
Meliá’s strategy to build a more resilient and profitable business has relied on several levers to ensure sustainable and qualitative growth.
These include expansion into both traditional destinations and emerging markets such as Albania, Saudi Arabia, and the Indian Ocean, as well as a focus on the luxury segment, where premium and luxury brands now represent 64% of the portfolio and 80% of the pipeline.
Additionally, revenue maximisation is supported by direct channels like Melia.com and the revamped Meliá App, which now account for 50% of total centralised sales.
Support for travel agencies
At the same time, the group has reaffirmed its commitment to travel agencies, companies, meeting planners, and tour operators by introducing a new, more intuitive and faster MeliaPro website — Meliá’s B2B digital platform for professionals — equipped with the latest technology. In 2024, sales through MeliaPro increased by 21%, surpassing the growth of the B2C channel Melia.com, which grew by 19%.
In 2024, Meliá signed 34 new hotels in emerging destinations across Europe, such as Albania and Malta, Southeast Asia, including Thailand and Vietnam, the Caribbean, Latin America, and Spain. In Albania (with over 4,000 rooms in operation and in the pipeline) and Vietnam (with 8,185 rooms), Meliá is already the leading hotel operator in these countries.
Asia: Hotel business outlook (Q4 2024 and Q1 2025)
At the end of the year, China continued to face the challenges experienced throughout 2024. The domestic customer remained the primary contributor, although international demand — particularly in the Company’s hotels in Chengdu and Xian — showed signs of recovery.
Looking ahead to 2025, a moderate increase in demand is expected. Domestic demand is anticipated to be concentrated around festive seasons, with rate stability but volume growth and later bookings. This trend aligns with the broader economic uncertainty, including slower-than-usual growth, the real estate crisis, and risks related to the ongoing trade war with the US. As for international demand, the recovery of air capacity is expected to continue.
2025: Double-digit growth in Thailand and Vietnam
Southeast Asia saw a positive fourth quarter, driven by international customer contributions, improved local connectivity, and events. By country, Vietnam experienced a significant increase in travellers, particularly from high-purchasing power markets such as India, South Korea, and China.
Thailand continued to lead in international arrivals, supported by new routes and aggressive promotional campaigns. Both countries showed notable improvements in occupancy compared to the previous year and, to a lesser extent, in average rates. Meanwhile, the historic Meliá Bali was closed due to a complete refurbishment.
2025 should deliver strong international growth, particularly in Thailand and Vietnam, which are anticipated to see double-digit RevPAR growth compared to the previous year. This growth will primarily stem from average price increases, though solid occupancy growth is also expected. Additionally, regional demand will be boosted by the reactivation of major events and the improvement of air routes.
