May 7, 2020 / 4:33 PM / a month ago

Spain's Melia Hotels books 80 mln euro loss in Q1

MADRID, May 7 (Reuters) - Spain’s Melia Hotels on Thursday reported a net loss of 79.7 million euros ($86.15 million) in the first quarter due to the closure of most of its hotels in response to the coronavirus outbreak.

“We estimate that April and May will be the most difficult months of the year, in terms of revenue, with most of the hotels closed and little visibility of when we will be able to open them again,” Melia said in statement. ($1 = 0.9252 euros) (Reporting by Inti Landauro and Jesús Aguado; editing by Nathan Allen)

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