Rezidor Hotel Group: YEAR-END REPORT January-December 2016

Fourth Quarter 2016Like-for-like ("L/L") RevPAR for leased and managed hotels was up by 2.4%.The growth is mainly due to an increase in occupancy.Revenue decreased by 4.8% to MEUR243.1 (255.4).The positive impact of the like-for-like RevPAR development has been offset by the exit...

London, 10/02/2017 (informazione.news - comunicati stampa - turismo)

2016 was a turbulent year for the hospitality industry and our company, and Q4 was no different. L/L Revenue increased by 3.8% in 2016 and 4.3% in the quarter with many markets trading at new peak levels. However, increased volatility related to terrorist attacks and the lower oil price negatively affected some key countries. While we continued to gain market share for the fifth consecutive year, results have been impacted by these external factors.

During 2016, we continued to pursue our long-term asset management strategy. In Q4, we announced the exit from six unprofitable lease agreements in the UK in 2017. The terminations brought the number of successfully closed asset management transactions in 2016 to 15. Over the past five years, Rezidor's portfolio optimisation initiatives have yielded €17m EBITDA contribution and 1.8% uplift in EBITDA margin.

In response to OECD and EU initiatives, we have adopted a sustainable tax strategy which led to capitalization of previously unrecognized tax losses. This will lead to a more normalized tax rate in the future and lifted our net results for 2016 to €26.4m.

In Q4 we signed 12 hotels with 1,800 rooms - underlining the strong growth momentum achieved in 2016 with 45 new hotels and 8,200 rooms. In the quarter we also opened four hotels with 900 rooms. Throughout the year we opened 18 hotels and 3,600 rooms and expanded our geographic reach in Africa with openings in Morocco, Ivory Coast, Togo and Rwanda.

With the completion of the acquisition of Carlson Hotels in early December 2016, HNA Tourism Group became Rezidor's new majority shareholder (51.3%) - and announced its mandatory public offer to the minority shareholders on December 22, which is currently under evaluation by Rezidor's Board of Directors. The Rezidor team welcomes HNA Tourism Group as the new majority shareholder and looks forward to further accelerating the growth of the company together.

Wolfgang M. Neumann, President & CEO

On February 10, 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, 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:

Belgium, Local +32 2 404 0662
Belgium, Free 0800 58033
Sweden, Local: +46 8 5065 3936
Sweden, Free: 0200 883 440
UK, Local:  +44 20 3427 1901
UK, Free: 0800 279 5736
USA, Local: +1 646 254 3360
USA, Free: 1877 280 2342
France, Local: +33 1 76 77 22 30
France, Free: 0805 631 580
Norway, Local: +47 2316 2729
Norway, Free: 800 56053

Confirmation code: 4571567.

For a replay of the conference call please visit www.investor.rezidor.com. 

Annual Report 2016: March 24, 2017
Q1 2017 results: April 28, 2017
AGM 2017: April 28, 2017
Q2 2017 results: July 26, 2017
Q3 2017 results: October 25, 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 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 483 hotels with over 105,000 rooms in operation and under development in 82 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 year-end 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 February 10, 2017.

Stockholm, February 10, 2017

The Board of Directors

Rezidor Hotel Group AB (publ)

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