Orient-Express Hotels Reports First Quarter 2008 Results
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Orient-Express Hotels Reports First Quarter 2008 Results
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2008-05-08
First Quarter 2008 highlights
- First Quarter Total Revenues of US$119.9 Million, Up 23% Over Prior Year
- Same Store RevPAR up 14% in U.S. Dollars, 12% in Local Currency
- EBITDA of US$16.4 Million, Up 8% Over Prior Year
- First Quarter Net Loss From Continuing Operations of US$2.4 Million, Compared With a Net Loss From Continuing Operations of US$2.5 Million in the Prior Year
- EPS Loss From Continuing Operations of US$0.06 per Common Share. Adjusted EPS Loss of US$0.09 per Common Share
Orient-Express Hotels Ltd. (NYSE: OEH) (http://www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced its results for the first quarter ended March 31, 2008.
The first quarter is traditionally a loss-making period for the Company because several of its European hotels are closed for most of the quarter and the Venice Simplon-Orient-Express and Royal Scotsman tourist trains and Afloat in France canal cruises do not operate for most of the quarter.
The net loss for the period was US$4.3 million (loss of US$0.10 per common share) on revenue of US$119.9 million, compared with a net loss of US$3.7 million (loss of US$0.09 per common share) on revenue of US$97.7 million in the first quarter of 2007. The net loss from continuing operations for the period was US$2.4 million (loss of US$0.06 per common share) compared with a net loss of US$2.5 million (loss of US$0.06 per common share) in the first quarter of 2007. The adjusted net loss from continuing operations for the period was US$4.0 million (loss of US$0.09 per common share) compared with an adjusted net loss of US$2.6 million (loss of US$0.06 per common share) in the first quarter of 2007.
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