Rezidor announces 2.7% RevPAR growth


The Rezidor Hotel Group has reported year-end results showing like-for-like RevPAR was up by 2.7%, and revenue increased by 1.9% to €937.3m.

The fourth quarter results saw like-for-like RevPAR rise by 0.9%, and revenue up by 0.8% to €238m.

Wolfgang M. Neumann, President & CEO, said, 'Our Route 2015 target of improving the EBITDA margin by 6 to 8 percentage points over the actual results of 2011 remains unchanged, but the achievement will be delayed due to the current business environment.

'We have made solid progress over the past three years - addressing legacy issues and driving profitability by reducing our cost base, pursuing revenue generation and successfully taking asset management actions in loss-making hotels.

'Furthermore, we have in 2014 accelerated the upgrading of our leased hotel portfolio with total investments of ca MEUR 54. These investments will secure the competitive positioning in selected markets.

During the quarter, we have signed ten new hotel agreements representing ca 2,000 rooms and opened five hotels with ca 900 rooms.'

The group currently features a portfolio of 432 hotels with over 95,000 rooms in operation and under development in 73 countries across Europe, the Middle East and Africa. Rezidor operates the core brands Radisson Blu and Park Inn by Radisson.