Meliá Hotels International, the renowned Mallorca-based hotel chain, has announced its ambitious expansion plans for 2024. The company plans to open around twenty new hotels, with at least half of them positioned in the luxury segment. This growth is supported by the sustained recovery of tourism both domestically and internationally, with the reopening of the Asian market standing out. In total, Meliá will add 4,000 rooms to its global offering by 2024.
Gabriel Juan Escarrer, president and CEO of Meliá, has specified that growth will focus on key areas such as the Mediterranean Basin, the Caribbean - especially Mexico and Cuba - and Southeast Asia. He also emphasised expansion in the Middle East, with a particular focus on Saudi Arabia, where agreements have already been signed to open three hotels, and Dubai.
Meliá is currently the largest Spanish hotel chain in terms of number of hotels, operating or planning 400 establishments in more than 40 countries. Of particular interest is the development of the Zel brand, the result of the collaboration between tennis player Rafa Nadal and the Balearic group. Under this brand, four new hotels are planned to open in 2024: two in the Caribbean (Zel Sayulita and Zel Punta Cana), one in Madrid (in the Gran Vía area) and another on the Costa Brava (in Tossa de Mar).
Meliá's Me brand will also experience growth in 2024, with plans to open at least four hotels in Malta, Sayulia, Guadalajara and Lisbon. The company highlighted the reopening of the Torre Melina, formerly known as the Juan Carlos I hotel in Barcelona, and the formation of a strategic alliance with Summum Hotel Group to add two new hotels to the Meliá Collection.
The company has reported that 2023 marked a turning point in the recovery of its turnover and anticipates that 2024 will be the year of increased occupancy. Despite the company's current average rates being 30% higher than in 2019, occupancy is still four points below pre-pandemic levels. Its stock valuation has seen a 2% increase in the last year.
