Q2 Interim Report January-June 2017
(WorldNews Sweden)

January-June 2017 Second Quarter 2017 Like-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, the temporary closure of one leased hotel for renovation and the strengthening of the Euro, partly offset by positive L/L RevPAR development and the re-opening of two leased hotels after renovation. On a L/L basis revenue increased by 2.6%. EBITDA amounted to MEUR 28.4 (36.4) and the EBITDA margin decreased to 11.2% (14.0). EBITDA is negatively impacted by higher central costs of...