Spain's largest hotel chain Meliá on Thursday posted an 8% rise in net profit for 2023 to 130.1 million euros ($141 million), beating analysts' expectations, after adding premium rooms at resorts to benefit from record tourism sales.

On average, analysts had expected a net profit of 104 million euros, which would mark the second consecutive year of gains at the Mallorcan company after losses from the COVID-19 pandemic.

Revenues grew 15% to 1.92 billion euros ($2.07 billion), thanks to the opening of 12 new hotels in Europe and Asia and higher high-end room rates.

Meliá expects tourism to remain strong this year, it said in a statement. Sales for the Easter vacations, considered the first indicator of the upcoming high season, are 10% better than in 2023.

First-quarter bookings were up 30% over the prior-year period, with the Canary Islands, Cape Verde, Dominican Republic and Mexico the strongest markets.

Meliá's luxury hotel unit accounted for a quarter of total 2023 revenue, with average revenue per room 18.3% higher than the previous year, it reported.

The group has said it plans to classify eight out of 10 of its hotels as "luxury" in the next two years, up from the current 66% share of its portfolio, as the high-end market allows the company to raise prices more quickly.

Meliá returned to profit in 2022 with a net profit of €111 million after two years of losses.

Meliá's shares have risen 10.57% this year, partly due to the sale of stakes in its hotel portfolio to banks such as Santander and sovereign wealth fund Abu Dhabi Investment Authority.

(1 U.S. dollar = 0.9254 euros)

(Report by Corina Pons; edited in Spanish by José Muñoz)