NPRO - RevPAR in May for Norgani
(Thomson Reuters ONE) -
Norgani's Swedish hotels saw a continued positive development in May. RevPAR
year to date for the Swedish hotels is now positive.. In Norway and Finland the
development is somewhat weaker, partly du to reduced travelling activity as a
consequence of the volcanic eruption on Iceland.
RevPAR (Revenue Per Available Room) as reported from the operators of Norgani's
hotels in May were (performance in 2010 compared to same period in 2009):
+-------------------+------+------------------+------------+-------------------+
|RevPAR, change from| | This period |Last period | |
|2009 to 2010 | |Year to date (per |Year to date| Norgani revenue |
| | May | May) |(per April) | split 2009 |
+-------------------+------+------------------+------------+-------------------+
|Norway |-3.2% | -6.9% | -7.9% | 23% |
+-------------------+------+------------------+------------+-------------------+
|Sweden |+2.1% | +0.1% | -0.6% | 45% |
+-------------------+------+------------------+------------+-------------------+
|Finland |-11.4%| -3.0% | -0.4% | 27% |
+-------------------+------+------------------+------------+-------------------+
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:
- Sweden comprises approximately 45% of Norgani's revenues, and we are glad
to see that RevPAR year to date is in positive territory.
- In light of the volcanic eruption on Iceland that negatively impacted the
travelling activity in the beginning of May, it is not surprising that the
development is somewhat weaker than in April, which was a very strong month.
- The development is still volatile, and we expect to see single months with
large changes compared to the same period last year.
Norgani intends to publish RevPAR figures for June in early August. General
market data for May has already been or will be published in juli 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#1428883]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Norwegian Property ASA via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2010 - 09:10 Uhr
Sprache: Deutsch
News-ID 23329
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 239 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"NPRO - RevPAR in May for Norgani"
steht unter der journalistisch-redaktionellen Verantwortung von
Norwegian Property ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
