July 30, 2020 / 4:08 PM / 13 days ago

Spain's Melia Hotels swings into H1 loss after pandemic forces closures

MADRID, July 30 (Reuters) - Spain's Melia Hotels swung into a first-half net loss of 358.6 million euros ($422.7 million) from a 47.7 million euro profit after the coronavirus pandemic forced the closure of most of its hotels, it said on Thursday.

"The second quarter of 2020 was the worst in the history of our company. In April and May our revenues decreased almost to zero," Chief Executive Gabriel Escarrer said, adding that a low level of activity had restarted in June.

$1 = 0.8483 euros Reporting by Nathan Allen; Editing by Jan Harvey

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