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Meliá Hotels International (OTCPK:SMIZF) is a Spanish hotel group with 384 hotels in over 40 countries. Since the end of January, Meliá Hotels International’s stock has lost 49% and currently trades at EUR3.75, reaching levels similar to its historical lows (EUR2 per share in 2009) at a time when Europe suffered its worst financial crisis in years. Since the Coronavirus outbreak, Meliá Hotels has underperformed the IBEX35 by ca 33%.
The key question is whether the current share price is realistic. After a thorough analysis, I have concluded that the stock is undervalued.