QuickView: Q1 results – getting back on track
After February’s warning that delivery of Route 2015 profit initiatives risks being delayed by market conditions (notably in Norway), the unrepresentative nature of seasonally weak Q1 financials (historically loss-making at EBITDA level) offered predictably little guidance for the rest of the year. However, we are encouraged by a pick-up in RevPAR (l-f-l +2.4%), a positive period for signings (including the first Radisson Red in EMEA) and continuing robust finances (€14m net cash at March).Rezidor Hotel Group is an international hospitality company managing hotels, brands and assets owned by third parties. Co. operates two main brands, Radisson Blu and Park Inn by Radisson, as well as two more brands, Radisson Red and the Quorvus Collection targeting the luxury segment. All brands are developed and licensed by Co. in Europe, the Middle East and Africa under Master Franchise Agreements with Carlson, a privately held hospitality and travel company. As of Dec 31 2013, Co.'s existing portfolio consisted of 429 hotels with 94,800 rooms in operation and under development in 69 countries across Europe, the Middle East and Africa.
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