Meliá earns 13.4% more in the third quarter and improves margins by 143 basis points
Operating revenues were $1.71 billion for the third quarter of 2018, an increase of 10.2%, or $157.7 million, from $1.55 billion for the same period of 2017.
After a steep drop in October, the index is down 10.5% through the first 10 months of 2018.
RAVE sees improvements in comparable store retail sales and net income
Adjusted EBITDA increased 22.4% to $132.7 million
Reaffirms Full-Year 2018 Adjusted EBITDA Guidance
Net income for the three months ended September 30, 2018 was $8.9 million or $0.35 per diluted share compared to net income of $2.8 million or $0.11 per diluted share in the prior year period.
Third quarter reported diluted EPS totaled $1.38, a 7 percent increase from prior year results. Third quarter adjusted diluted EPS totaled $1.70, a 62 percent increase over third quarter 2017 adjusted results.
Comparable RevPAR: 5.0% increase for the 20-hotel portfolio over the same period in 2017 – Comparable Adjusted Hotel EBITDAre Margin: 20 basis point increase to 33.4% for the 20-hotel portfolio over the same period in 2017
RevPAR Growth Stronger than Expected, 2018 Guidance Mid-Point Raised