Radisson Hospitality AB : Very good quality Q2 results; EBITDA guidance raised. TP adjusted to SEK 32
>Better-than-expected Q2 results - The group has reported Q2 revenue of € 254m, stable year on year, incorporating negative currency effects related to the appreciation of the euro and scope effects (exit of eight leases at the end of 2017). Like-for-like RevPAR growth was 8.2%, well above our expectations and the Q1 performance (+1.7%). Of the four regions, only Africa, Middle East (13% of consolidated EBITDA) posted a decline in RevPAR related to the weakness of the...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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