NPRO - RevPAR in April for Norgani
(Thomson Reuters ONE) -
Norgani's hotels had a strong performance in April. RevPAR (Revenue Per
Available Room) as reported from the operators of Norgani's hotels in April were
(performance in 2010 compared to same period in 2009):
Norgani Norway RevPAR April +14.5% Year to date -7.9%
Norgani Sweden RevPAR April +9.6% Year to date -0.6%
Norgani Finland RevPAR April +2.8% Year to date -0.4%
Norgani's revenues are generated as a percentage of the hotel operators'
revenues (room revenue and other revenues). Improving RevPAR will consequently
be positive for Norgani's revenues going forward. Norgani has 3 hotels in
Denmark which currently only generate minimum rents or pay fixed rents.
CEO Anders Vatne in Norgani comments:
- We earlier expected that the hotel market would see growth towards the end of
2010 or in the beginning of 2011. The RevPAR development over the last few
months may suggest that the market may turn positive somewhat earlier than
previously expected.
- In light of the turbulent financial markets and the uncertain macro economic
environment it is however too early to conclude that the hotel market again is
growing.
- April has to some extent been positively impacted by the timing of the Easter,
but towards the end of April the hotel market in the Nordics was negatively
impacted by reduced travelling activity as a consequence of the volcanic
eruption on Iceland.
Norgani intends to publish RevPAR figures on a monthly basis going forward.
Norgani's RevPAR figures for May will be published early July. General market
data for April has already been or will be published in June by the statistical
authorities in the respective Nordic countries.
For further information, please contact:
Anders Vatne, CEO Norgani
Tel. +47 92 69 77 00
Svein Hov Skjelle, CFO Norwegian Property
Tel. +47 93 05 55 66
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1420339]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 21743
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Town:
Oslo
Kategorie:
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