Turismo
Rezidor Hotel Group: INTERIM REPORT January-June 2015
"RevPAR recovery continued during the second quarter of 2015 and culminated in a strong month of June, driven by Eastern European countries outside Russia and by mature Western European markets. However, weak RevPAR development in some of the countries in the Middle East and the difficult business climate in Norway still impacted the results.
We made strong progress in pursuit of our growth strategy: achievements included the 25 years contract extension for one of the Group's most profitable leases in Norway, and the signing of a total of 15 new projects with almost 2,500 rooms under management and franchise agreements. Most of these hotels are situated in emerging markets and focus countries and scheduled to open within the next 12 months.
Q2 signings featured the first Radisson Red in EMEA: the Radisson Red V&A Waterfront Cape Town - located at one of Africa's premier sites and opening in late 2016 - marked the roll-out start of our new lifestyle select brand. We see strong interest in the market, and will drive the development of Radisson Red through flexible business models together with experienced partners.
We also continued to make progress on our profit improvement initiatives as evidenced by the strong performance in operating cash flow. At the same time, we further drove our investment programme supported by the 2014 rights issue, and have launched an accelerated Capex deployment that will result in almost 8,000 refurbished rooms in the Nordics and Rest of Western Europe by the end of 2017."
Wolfgang M. Neumann, President & CEO
On July 23, 2015 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 .
Confirmation code: 6030506. For a replay of the conference call please visit www.investor.rezidor.com .
Q3 2015 results: October 22, 2015
Q4 2015 results: February 16, 2016
Q1 2016 results: April 21, 2016
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 February 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 446 hotels with over 98,000 rooms in operation and under development in 77 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
Attachment(s)
http://hugin.info/142138/R/1940625/700876.pdf
Regulatory News
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: %s via Globenewswire