for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Melia Hotels' 1Q was very poor in line with 4Q, CEO says

MADRID, April 14 (Reuters) - Spanish hotel chain Melia Hotels has experienced a “very poor” first quarter of 2021, similar to the previous quarter when the company reported a steep loss, Chief Executive Gabriel Escarrer said on Wednesday.

The Mallorca-based firm posted a net loss of 126 million euros ($150.60 million) in the fourth quarter of 2020, while revenues slumped 76% to 98 million euros as COVID-19 travel restrictions devastated the tourism industry.

$1 = 0.8367 euros Reporting by Aida Pelaez-Fernandez and Inti Landauro; Editing by Nathan Allen

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up