Orient-Express Hotels Reports Second Quarter 2011 Results (United Kingdom)
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Orient-Express Hotels Reports Second Quarter 2011 Results (United Kingdom)
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Category: Europe - United Kingdom - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2011-08-04
Second Quarter Earnings Summary
Second quarter total revenue, excluding Real Estate, up 23% to $177.4 million
Revenue from Owned Hotels up 25% to $145.2 million
Same store RevPAR up 20% in US dollars, up 14% in local currency
Adjusted EBITDA before Real Estate up 28% to $41.1 million
Adjusted net earnings from continuing operations for the quarter of $7.5 million, compared to $3.3 million in the second quarter of 2010
KeyEvents
Announced the planned opening in summer 2012 of Palacio Nazarenas, a 55 key all suite hotel in a former palace and convent in Cuzco, Peru
Reopened Napasai, Koh Samui, following a one month closure to create a new seven acre lagoon and nature reserve
Hotel Caruso, Ravello, ranked Top Resort in Europe in Travel + Leisure (US) World's Best Awards 2011 readers' survey
Maroma's Kinan Spa voted best spa in Mexico & Central America by readers of Condé Nast Traveler (US)
Completed the EUR18.0 million ($26.1 million) refinancing of loans secured on La Residencia, Mallorca, with maturity of three years
Completed sale of Hôtel de la Cité, Carcassonne, on August 1 for EUR9.0 million ($12.9 million)
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