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Radisson Hospitality sees revenues rise but profits down

Anna Pakulniewicz 05 November 2018

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

WORLD Over Q3 2018 Radisson Hospitality saw its revenues increase by EUR 4.2 mln (1.7 pct) to EUR 253.3 mln. The rise was mainly due to the strong performance of its like-for-like hotel portfolio, which was partly offset by the termination of eight leases at the end of last year and one lease this year (EUR –8.2 mln) and the strengthening of the Euro against the US dollar (EUR –5.2 mln).

On a like-for-like basis, including hotels under renovation, Radisson Hospitality saw its revenues increase by EUR 16.8 mln (7.1 pct). Its RevPAR for leased and managed hotels increased by 5.6 pct and RevPAR on a like-for-like basis by 8.9 pct. Its EBITDA increased by EUR 5.8 mln (16.9 pct) to EUR 40.2 mln and its EBITDA margin increased 2.1 pp to 15.9 pct.

The increase was mainly due to like-for-like revenue growth and a reduction in operating costs for its leased hotels.

However, profit was down by EUR 5.3 mln (–36.8 pct) to EUR 9.1 mln partly due to the higher financial expenses resulting from the company’s bond issue in July.


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