Link Securities | Meliá Hotels is accelerating the sale of its properties and increasing its bet on management contracts and franchises, the daily Cinco Dias said today.
Meliá, with a portfolio of 330 hotels and a further 48 signed for the next few years, was dragged down in financial terms during the pandemic by having to maintain its own hotels without any activity going on. So last Tuesday, the hotel chain annonced the incorporation of a hotel in Tenerife to the Affiliated by Meliá brand network, created in 2020. The number of hotels under franchise now totals 73.
The September figures reflect the strategic turn around, given that the number of owned hotels account for just 11% of the total, a historic low. Meanwhile, those hotels under management have risen to 43% of the total (from the previous 39%), rentals to 30% (from 24% before) and those under franchise to 16% (from 10% previously).