Turismo
Rezidor Hotel Group: INTERIM REPORT January-June 2016
Second Quarter 2016
Margin expansion continued despite challenging external environment
Despite the challenging external environment in some EMEA destinations, Rezidor expanded the EBITDA margin by 1.3 pp to 14.0% versus last year and continued to gain market share. Like-for-like RevPAR increased by 4.0% and good flow through was achieved, especially in the leased portfolio.
The depressed oil price continued to affect key markets like Norway, as well as markets such as Saudi Arabia, Russia and Nigeria. Belgium entered into a downturn following the terror attacks in March and France continued to be weak, as well as other important leisure destinations like Turkey. On the other hand, Sweden, Denmark, Germany and Ireland posted good performances.
Due to these uncertain conditions, we remain focused on containment of overhead costs and additional procurement savings while fully protecting the guest experience at our hotels. In line with our commitment to high safety and security standards, we further expanded our partnership with Safehotels Alliance for independent third party certification of our properties. More than 110 Rezidor hotels across EMEA have now gained certification which will further mitigate risk for both our guests and colleagues.
Despite the difficulties in many countries, we accelerated our pipeline delivery reaching an operating portfolio of 80,000 rooms for the first time. Africa has been particularly strong in this quarter with the opening of our first hotels in Lomé, Togo, and Marrakech, Morocco. In Brussels, Belgium, we launched the world's first Radisson RED - our new lifestyle select brand that is well received in the market. New hotel signings also showed good momentum and were in line with our asset-light strategy concentrating on fee-based business.
We continue to carefully monitor the environment and pursue our long-term strategy of constantly optimising margins and growing our network.
Wolfgang M. Neumann, President & CEO
On July 27, 2016 at 10:00 (Central European Time) a combined telephone conference and live webcast (in English) concerning the report will be presented by the President & CEO, Wolfgang M. Neumann and Deputy President & CFO, Knut Kleiven. To follow the webcast, please visit www.investor.rezidor.com .
To access the telephone conference, please dial:
Confirmation code: 4241988. For a replay of the conference call please visit www.investor.rezidor.com .
Q3 2016 results: October 25, 2016
Q4 2016 results: February 10, 2017
Q1 2017 results: April 28, 2017
Knut Kleiven
Deputy President & CFO
Tel: +32 2 702 9244
Fax: +32 2 702 9330
knut.kleiven@carlsonrezidor.com
Andrea Brandenberger
Senior Director
Business Development Strategy & Investor Relations
Tel: +32 2 702 9237
andrea.brandenberger@carlsonrezidor.com
The Rezidor Hotel Group Corporate Office
Avenue du Bourget 44
B-1130 Brussels
Belgium
Tel: +32 2 702 9200
Fax: +32 2 702 9300
Website: www.rezidor.com
The Rezidor Hotel Group is focused on hotel management and operates the core brands Radisson Blu and Park Inn by Radisson. In 2014, Rezidor announced together with Carlson the launch of two additional brands; Radisson RED, an upscale "lifestyle select" brand inspired by the millennial lifestyle, and Quorvus Collection, a new generation of distinctive five star hotels.
The portfolio consists of 469 hotels with over 102,000 rooms in operation and under development in 81 countries across Europe, the Middle East and Africa.
Rezidor's strategy is to grow with management and franchise contracts and only selectively with leases. The strategy is also to further expand in the emerging markets.
Rezidor is a member of the Carlson Rezidor Hotel Group. For more information, visit www.rezidor.com .
The full report with tables can be downloaded from the following link:
Copyright GlobeNewswire
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