Aug 07th 2012 - Edison Investment Research today published a report on Melia Hotels entitled "In Good Heart". In summary, the report says:
Meliá looks to be making the best of a difficult situation. After a decent underlying performance in H1, continuing strength in its major area, the Americas, and positive signs for Spanish resorts in their key trading period are driving Q3 optimism. Although there is no quick fix for their city counterparts, their importance to group profit is now slight, while stubbornly high net debt should be cut by the year end, albeit by asset sales. Meliá’s discount to international branded peers is thus arguably excessive, even allowing for the significance of real estate activity.
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