Meliá looks to ‘survival’ rather than ‘profit’

Automation

Shares in Meliá Hotels International, the Spanish operator, fell nearly 10 percent on July 31 as the company said that “long-term survival” had become its priority.

Gabriel Escarrer, the CEO, said: “This is not the time to be thinking about profits, but rather about long-term survival and strength.”

At the end of June net company debt stood at 2.3 billion euros, an increase of 294 million euros compared to the end of December.

At the end of June, Meliá had liquid assets and und

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