NH Hotels EBITDA Grows By 87% In The First Half Of 2010
Released on: August 04, 2010, 4:30 am
Author:
NH Hotels
Industry: Travel
NH Hotels has announced an 87% growth EBITDA across the first
half of 2010.
The negative environment that the sector suffered in the 2009 financial year
presented a very positive advance in the first half of 2010. The Group income
reached €646.5M, a rise of 7.2%, and the EBITDA, which shows the operational
evolution of NH Hotels, reflected the significant market recovery and an increase in
productivity. The company generated an EBITDA of €68M, practically double the same
period of 2009, which is fundamentally due to the improvement in hotel activity in
all the markets in which NH Hotels operates.
The income from the hotel activity grew by 8.3%, as a consequence of an increase in
occupancy in all the markets where the company operates in the first half of the
year. The increase in the levels of occupancy, of 12.4% in comparable hotels,
permitted the RevPar (ratio that measures income per available room) to make an
increase of 7.2%. During the second quarter of 2010, the fall in prices has been
halted completely, contributing positively to the increase in RevPar. The
considerable increase in hotel activity contrasts with the slight increase in costs
of 3.6%, thanks to the cost containment plan that the company has maintained during
the first half of 2010.
In Spain and Portugal, the fall in average prices began to stabilise and for the
first time since the beginning of the crisis, the activity showed a positive result
in RevPar, 4.84% in comparable hotels. Principally, there has been an increase in
sales at weekends with especially good performances for the groups hotels in Madrid and Barcelona, with
increases in occupancy that are greater than 20%.
Despite the fact that Benelux is the business unit which had the lowest increase,
the rises in occupancy together with a slowing of the rate of fall of average prices
resulted in a positive RevPar in the first half. The recovery in this business unit
is marked fundamentally by the behaviour of the activity of the Amsterdam hotels, and those
in Brussels, compared with a slower evolution in the secondary towns.
Germany showed the best evolution of all the markets where NH Hotels operates,
reaching a growth in RevPar of 17.4% in comparable hotels. This increase in income
was driven by an increase in occupancy of 9.8% and growth in the average price in
Germany of 6.8%.
Customer satisfaction scores across NH Hotels for the first quarter of 2010 showed a
continued increase, reaching a score for July this year of 8.42 out of 10 (29,471
respondents) compared with 8.32 in 2009 (18,644 respondents).
About NH Hotels
NH Hotels ranks third among European business hotels. NH Hotels currently has 395
hotels with 59,113 rooms in 25 countries in America, Africa and European
destinations with a wide selection of Zaragoza hotels, Valencia hotels and hotels in Turin. NH Hotels has 27 new
hotel projects under construction, which will provide 4,000 new rooms.
NH Hotels stands out in quality both as regards services and facilities, with very
carefully thought out decoration, intended to please all tastes and making the guest
feel comfortable. NH Hotels' establishments offer the most advanced technologies
designed to facilitate the guest's communication as well as his work and leisure.
NH Hotels is a responsible company in the Tourism industry. The Chain offer hotel
services which anticipate present and future needs of both our internal and external
stakeholders (Employees, Clients, Shareholders, Suppliers, Environment, etc.), the
communities where we operate and future generations with maximum attention to detail
and efficient and sustainable solutions.
NH Hotels is listed on the Stock Exchange of Madrid.
For further information please contact:
Departamento Prensa
NH Hotels
Santa Engracia 120 Edificio Central
Madrid
Spain
+34914519762
www.nh-hotels.com
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