Valamar Riviera - Enough liquidity to weather the Covid-19 storm, Valamar Riviera 3Q 20 Conference Call Notes
Valamar hosted its first video call to present quarterly results and discuss the latest business developments. We highlight the following issues:1) Double-digit decline in ADR - According to Valamar, a reported yoy decline in ADR of 13% in 1-3Q 20 is not the result of a price war. The rationale behind the significant drop in ADR is the shift of bookings for April and May to the summer season and a different product sales mix. Compared to FY 19, this year is marked by a significantly higher demand for camping resorts compared to hotels and hotel resorts. Thus, camping resorts participate with a higher percentage in total accommodation units sold compared to FY 19.
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