The Rezidor Hotel Group: Interim Report January-June 2017

Second Quarter 2017Like-for-like ("L/L") RevPAR for leased and managed hotels was up by 4.0%.The growth is due to increase in both occupancy and average room rate. Revenue decreased by 2.2% to MEUR 254.1 (259.8).The decrease is mainly due to the exit of four leased hotels last year,...

London, 26/07/2017 (informazione.news - comunicati stampa - turismo)

Launch of works on 5-year strategy plan under new executive leadership

During the second quarter of 2017, Rezidor's positive RevPAR performance from the first quarter continued. Overall RevPAR was up 4%, driven by solid business in most European countries. However, as expected and already mentioned in our Q1 report, the timing of Easter had a negative impact on our results. We have also recognised costs of a one-off nature, which has led to that we deliver results below last year.

Q2 also saw a change in executive management at Rezidor: At the Annual General Meeting in April, the company's new Board of Directors was elected and is chaired by our new majority owner HNA Tourism Group. In May, I took over the position as President & Chief Executive Officer. I am energized by the potential of the company, and excited to build on Rezidor's achievements to further strengthen the group's profile and profitability.

We have started to work on a comprehensive and holistic 5-year strategy plan that will be presented to the Board in October 2017 for a launch in January 2018. The plan analysis covers our operations and asset management, brands and products, commercial and IT areas, talent and culture. It is also aligned with our partner Carlson to capture global revenue and brand opportunities, in order to reach our joint target of becoming one of the world's leading hotel companies by constantly adding value for our guests, owners, team members and shareholders.

At this preliminary stage, the opportunities going forward look significant. Following the Board's approval of the 5-year plan, we intend to share the core components with the investor relations community at an Investor Day in Q4 2017.

Federico González-Tejera, President & CEO

On July 26, 2017 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, Federico González-Tejera 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: 4257238. For a replay of the conference call please visit www.investor.rezidor.com.

Q3 2017 results: October 25
Q4 2017 results: February 21

Knut Kleiven
Deputy President & CFO
Tel: +32 2 702 9244
knut.kleiven@carlsonrezidor.com

Andrea Brandenberger
Vice President 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 Hotels 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. Rezidor also holds 49% in prizeotel, a young hotel chain in the economy segment.

The portfolio consists of 480 hotels with over 106,000 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.

This half-year report comprises information which Rezidor Hotel Group AB (publ) is required to disclose under the Securities Markets Act and/or the Financial Instruments Trading Act. It was released for publication at 07:30 Central European Time on July 26, 2017.

The full report with tables can be downloaded from the following link: