Rezidor: Financial report January - March 2007
First quarter 2007:
• Revenue increased to MEUR 173.4 (156.2).
• EBITDA amounted to MEUR 4.5 (-0.4), and EBITDA margin was 2.6% (-0.3).
• Profit after tax of MEUR -1.1 (-4.6).
• Earnings Per Share amounted to EUR -0.01 (-0.03)1)
• RevPAR Like-for-Like (for leased and managed hotels) up by 10.9% to EUR 71
(64), and occupancy was 65% (62).
• RevPAR total (for leased and managed hotels) up by 4.7% to EUR 67 (64), and
occupancy was 63% (62).
Other highlights:
• Already a European market leader in the airport hotel segment, Rezidor
announced four new contracts for developing airport hotels in Germany, the UK &
Ireland.
• Further building on the Park Inn brand, three additional contracts were signed
in the UK.
• The selective and strategic development of the luxury brand, Regent, continues
with a new property in Abu Dhabi, UAE, scheduled to open in 2010.
• In the quarter, Rezidor added over 2,300 rooms in operation, out of which 500
rooms were extensions to existing hotels. Over 80% of these rooms were under
management contracts.
• In the quarter, Rezidor contracted over 2,100 rooms. Over 80% of the
contracted rooms were under management contracts.
• On target towards adding 20,000 rooms to operation by end 2009.
CEO Statement:
“The positive development of 2006 has continued into 2007, and although the
first quarter is seasonally the weakest, we are pleased to present a strong
result. RevPAR is continuing to increase, driven primarily by rate, which should
further improve our EBITDA margin. During the quarter, we opened over 2,300
rooms. Given these new openings and our contracted pipeline, we believe that we
are in line with our target of adding 20,000 new rooms by the end of 2009.” Kurt
Ritter, President & CEO
Note:
1) The calculation of Earnings Per Share is based on average number of ordinary
shares outstanding during the period (please also refer to Consolidated Income
Statement presented on page 8).
For further information, please contact:
Per Blixt, Head of Corporate Communication & Investor Relations
Mobile +32 477 760 267, per.blixt@rezidor.com
Refer to the Financial report at www.rezidor.com for further detailed
information.
