Spain's Melia posts first-half loss of €7.5 million after Cuba exit

MADRID, July 30 (Reuters) - Spanish hotel group Melia on Thursday reported a net loss of €7.5 million due to the cessation of its operations in Cuba.

Here are the details:

• Revenues of Spain's largest hotel chain, which also operates across Europe, Asia and the Caribbean, reached €1.04 billion euros, 7.1% more than the same period last year.

• The company's profit from continuing operations was €83.5 million in the first half of 2026, in line with last year.

• However, it also booked provisions of €79.4 million related to suspending its Cuban operations.

• Its consolidated net profit was €4.1 million.

• Revenue was in line with analysts' expectations, according to an LSEG survey.

• Revenue per room in the first half rose 11.7% from a year earlier.

• Melia expects a stronger summer season at its resorts in Spain and other countries, with bookings for the third quarter growing at double-digit rates compared to last year.

• Melia ceased operations of its 34 hotels in Cuba between June and July amid tighter U.S. sanctions and a deepening economic crisis.

($1 = 0.8695 euros)

(Reporting by Corina Pons, Editing by Victoria Waldersee)