Spanish hotel chain Melia: Revenues in Cuba grew in 2016

HAVANA, Cuba, Feb 28 (ACN) the Spanish hotel chain Melia reported a 10.3 percent growth in 2017 in its operations in Cuba, largely attributed to improved rates, mainly in the cities of Havana and Santiago de Cuba.

According to a press released by Melia, which runs 27 hotels throughout Cuba, the revenue per available room (RevPAR) grew due to a spike in prices (17.1 percent more) influenced by the increased demand.
The released noted that the start of the normalization of relations between Cuba and the United States allowed the arrival from the 4th quarter 2016 onwards of 14 non-stop daily flights to Havana and new non-stop connections to Varadero, Santiago de Cuba, Holguin, Santa Clara and Camagüey, leading to an increase of 176% in North American travelers
Taking into consideration that Cuban tourism reached the 4 million visitors a year mark, Melia shows confidence that 2017 will be an even better year in the Caribbean nation. Worldwide the hotel chain posted net profits of over 100 million Euros.
Gabriel Escarrer Jaume, Vice Chairman and Chief Executive Officer of Meliá Hotels International: "The 2016 results once again show a strong performance from the hotel business as a result of a positive international travel environment, especially in resorts"
Melia has hotels in all main Cuban tourist poles: Havana city, Varadero, Santiago de Cuba, the keys on the northern coast and Guardalvaca in Holguin. All facilities are 4 and 5 stars.
Revenue per available room (RevPAR) is a performance metric used in the hotel industry and is calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. It may also be calculated by dividing a hotel's total room revenue by the total number of available rooms in the period being measured.