The Rezidor Hotel Group is one of the most dynamic and fastest growing hotel companies in the world. The group currently features a portfolio of 434 hotels with 95,000 rooms in operation and under development in 70 countries across Europe, the Middle East and Africa. Rezidor operates the core brands Radisson Blu and Park Inn by Radisson, as well as Regent Hotels & Resorts, and Hotel Missoni, a lifestyle brand which is developed worldwide following a licence agreement with the iconic Italian fashion house Missoni.
Second quarter, 2013
- Like-for like ("L/L") RevPAR was up by 6.0%.
- Revenue increased by 4.2% to MEUR 248.9 (238.9). On a L/L basis Revenue increased by 7.0%.
- EBITDA amounted to MEUR 34.9 (22.7), and the EBITDA margin was 14.0% (9.5).
- Profit after tax amounted to MEUR 17.4 (6.2).
- Basic and diluted Earnings Per Share was EUR 0.12 (0.04).
- Ca 1,800 new rooms were contracted and ca 800 new rooms opened.
Half year, 2013
- L/L RevPAR was up by 5.9%.
- Revenue increased by 2.3% to MEUR 456.0 (445.8).
- On a L/L basis Revenue increased by 3.9%.
- EBITDA amounted to MEUR 32.1 (17.7), and the EBITDA margin was 7.0% (4.0).
- Profit after tax amounted to MEUR 6.2 (-7.9).
- Basic and diluted Earnings Per Share was EUR 0.04 (-0.05).
- Cash flow from operating activities amounted to MEUR 6.6 (-10.7).
- Ca 2,900 new rooms were contracted and ca 1,700 new rooms opened.
Comments from the CEO
Continued strong RevPAR development; EBITDA margin expansion in line with Route 2015 turnaround plan
"We see a modest, demand driven, recovery in the EMEA hotel market despite continued macroeconomic uncertainties. During the quarter, the Nordics posted a strong RevPAR performance benefitting from the Easter timing. Western and Eastern Europe also showed good developments. The markets in the Middle East and Africa continued to show a positive trend, and witnessed a double digit RevPAR growth.
Our Route 2015 turnaround plan has continued to deliver positive results. We gained further market share and noted solid improvement in profitability. EBITDA margin increased by 4.5 percentage points and resulted in the best Q2 performance since 2009. The Easter timing contributed an estimated 1 percentage point to the margin uplift. Our investment program also gained momentum in line with our plans.
During the quarter, we added 1,800 rooms to the pipeline and opened 800 rooms. More than 90% of the new rooms were under fee based contracts, which support our asset-light strategy.
The visibility for the next quarter and the rest of the year is still low. Maintaining cautious optimism, we remain strongly focussed on capturing market share, tight cost control, asset management and growth in emerging markets."
Wolfgang M. Neumann, President & CEO
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