CEO Gabriel Escarrer noted that summer bookings for the group's luxury resorts and urban hotels in Spain were growing at a double-digit pace. He expects high single-digit growth in revenue per available room (RevPAR) during the second quarter, which marks the start of the peak summer season following Easter.
Speaking to shareholders at the annual general meeting on Thursday, Escarrer stated that Spain and the Caribbean are sufficiently distant from conflict zones and close to key source markets to offer a safe destination this summer season.
However, he warned that the short-term impact of the war, which began with U.S. and Israeli airstrikes on Iran in late February, was a mirage and that uncertainty regarding international trade was more pronounced than in previous crises.
The company previously informed shareholders that it expects to achieve earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least 565 million euros (665 million dollars) this year, up from 545 million euros in 2025, as demand in its core markets—including Spain and parts of Latin America and Europe—remained stable.
Despite headwinds, including the risk of rising airfares, bookings to Mediterranean countries away from Middle Eastern instability have surged, as travelers opt to reroute rather than cancel their trips, according to industry executives and travel data.
(1 dollar = 0.8495 euros)
(Reporting by Corina Pons; editing by Andrei Khalip and Barbara Lewis; English translation by [Agency])
