Nobody misses that we are light years away from the tourist situation before the pandemic and that sometimes there is bad news, as happened yesterday with China and oil, they are the ones who suffer the most in the market. So much so that, despite the improvement implemented with the summer, the fall in tourism GDP in our country is expected to reach almost 44%, equivalent to 87,000 million euros, a figure unknown for no less than 18 years.
This is the momentum that the sector is experiencing while its most representative securities listed on the Ibex accumulate massive drops in a specific case: in that of IAG (Iberia) losses from levels of 5.88 euros that marked before the crisis, in October 2019 exceed 170%, including extension, let’s not forget it.
In the case of Melia Hotels This is not the case, since its current price does slightly exceed the 7 euros that the prepandemic value marked, two years ago. And to Amadeus, which by October 2019 traded at 65.50 euros per title, the route reaches 8.5%.
The most punished is, therefore, a IAG (Iberia) which just recovered about 35% in its price in the last month, especially encouraged by reopening. The return to a greater extent to air normality, With the opening of countries, the lifting of measures and the fall of Covid19 cases, in Europe and the United States especially, it proliferates.
And that means, for example, the resumption of transatlantic flights and, looking forward, on November 8, entry with vaccination passport to the United States, a more than significant advance for the recovery of routes.
In the case of Melia Hotels the recovery of its price with levels prior to the pandemic is highly significant with reopening, drastic cost savings, and its franchise-based growth strategy. You have already pointed out that expects to recover its Ebitda levels by early 2023, although they consider that the advance in income, to levels prior to the pandemic, is more difficult to determine.
They consider that there is a way to go, because their occupation levels, in the case of Spain they are still at 30%. Because on the coast they evolve more actively than in the urban segment. Abroad, they await the “opening” in North America, the US and Canada, with Mexico already recovered, not so in Cuba or the Dominican Republic.
Meanwhile, the value is already moving in price of two years ago, with a cumulative recovery in the last month of 27.8%, very pronounced and that, con the progress in the fourth quarter, for example, in a rebound in urban tourism in second cities, can rise.
And if we look at Amadeus We see that its prepandemic distance exceeds 8% in terms of price. The online reservation center, heavily hit during the summer, increased by 21.7% in the last month, on account of the improvement in reserves. And not because everything helps since Morgan Stanley has just indicated that it is very cautious about its results, due to the slow recovery in air traffic and the lower revenues that are expected.
Disclaimer: This article is generated from the feed and not edited by our team.
