NPRO - RevPAR in June for Norgani
(Thomson Reuters ONE) -
Norgani's Norwegian and Finnish hotels had a very positive development in June.
The Swedish hotel numbers were also positive, but were slightly weaker due to
refurbishment of Scandic Malmen in Stockholm (on average approximately 60 room
were upgraded during June). RevPAR year to date for the Swedish hotels is now
positive, whereas the Finnish hotels are approaching positive numbers.
RevPAR (Revenue Per Available Room) as reported from the operators of Norgani's
hotels in June 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 |
| | June | June) | (per May) | split 2009 |
+-------------------+------+------------------+------------+-------------------+
|Norway |+10.7%| -3.0% | -6.9% | 23% |
+-------------------+------+------------------+------------+-------------------+
|Sweden |+0.3% | +0.1% | +0.1% | 45% |
+-------------------+------+------------------+------------+-------------------+
|Finland |+7.1% | -1.0% | -3.0% | 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:
- We are positively surprised by the strong RevPAR-figures, especially in
Norway and Finland which earlier have been lagging the Swedish market. The
growth is to a large degree positively impacted by private travel activity. The
business travel market is still relatively flat.
- Also in June the development in Sweden is positive, though the numbers are
somewhat weaker than the general market. In June on average about 60 rooms
(which are included in available capacity) in Scandic Malmen have not been
available due to refurbishment.
- The development confirms that the hotel market is stabilising. 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 July in early September. General
market data for June has already been or will be published in August 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#1438046]
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Source: Norwegian Property ASA via Thomson Reuters ONE
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Datum: 16.08.2010 - 08:10 Uhr
Sprache: Deutsch
News-ID 39694
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