Melia racks up over 14 million euros in Cuba over the first half of 2016

Posted: 08-Aug-16 09:58

The Melia group has doubled their profits in Cuba over the first half of 2016 with a significant increase that represents a quarter of their total global earnings over this period. The Spanish hotel chain made over 14 million euros in Cuba between January and June, 29 per cent more than over last year's first semester and thus solidifying their positon as the island's leading foreign hotelier.

Melia racks up over 14 million euros in Cuba over the first half of 2016

Melia Hotels International has raked more than 14 million euros in net profits from the Cuban properties they manage. Having enjoyed near-to-full capacity (and at many times exceeding it) across their collection of Cuba hotels nationwide, these record-breaking earnings for the company cover the period between January and June 2016.

This figure takes the Spanish hotelier to new heights in the island and represents a 29 per cent growth when compared to Melia´s earnings in Cuba over the same period last year.

The Spanish hotel giant with over 370 hotel properties globally, 27 of which are in Cuba, successfully runs a collection of three to five-star hotels and resorts in the island under the following brands: Sol, Tryp, Melia and Paradisus. Ten of these hotels, the vast majority of them, are located in Varadero, Cuba´s premier beach resort and one of the main holiday destinations in the island responsible for attracting the majority of tourists.

Melia has always enjoyed a very close relationship with Cuba. It was one of the first international hotel chains to set sights on the island during the 90s, a transitional period for Cuba after the fall of the Soviet Union; where the country turned to tourism as a way to boost its economy. It rapidly became Cuba’s biggest revenue earner and Melia grew alongside it. Melia´s loyalty to Cuba is evident in the way it has strongly cemented and solidified their presence in the island, always expanding its number of hotels and resorts nationwide. The hotel company has also been, historically, the fastest growing and one of the most consistent in Cuba, quality-wise. It’s certainly one of the most highly regarded by tourists, and their high occupancy levels stand as proof.

So it probably stands as no surprise that the company would increase their earnings in the island when last year it enjoyed a 70 per cent average occupancy level across all its Cuba hotels (89 per cent in Havana), and made a hefty $475 million USD in total revenue.

Melia’s relationship with Cuba is so close and important to the company that it has a fully dedicated website entirely devoted to their hotels in Cuba. Its efforts to promote the destination don’t go unnoticed and just last month the Melia Cuba page listed seven symbols of Cuban patrimony.

The first Spanish hotelier to ever open a hotel in Cuba, Melia is also at the heart of many annual events in the island, such as the Varadero Golf Tournament and the Melia Cuba Golf Cup, both celebrated at Cuba’s one and only championship golf course (for now at least, there are plans for two to three more golf courses) adjacent to the Melia Las Americas Resort, a luxury five-star resort facing the famous Varadero beach.

As published in Cartas desde Cuba, Melia’s RevPar (Revenue per Available Room) in Cuba also grew by 10 per cent during this year’s first semester, partly due to the increase in demand for hotels rooms in Havana (and the resulting increase in room rates), especially the Melia Habana and Melia Cohiba, two of the city’s most coveted hotels. Even more so now, that more U.S. travellers are arriving to the island in growing numbers, testing Cuba’s hotel capacity to the limit.


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