Orient-Express Hotels Ltd. Reports Fourth Quarter 2012 Results
Fourth quarter same store revenue per available room (“RevPAR”) equal to prior-year quarter in US dollars; up 7% excluding Copacabana Palace, Rio de Janeiro, which was partially closed for planned renovation |
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Orient-Express Hotels Ltd. Reports Fourth Quarter 2012 Results
Fourth quarter same store revenue per available room (“RevPAR”) equal to prior-year quarter in US dollars; up 7% excluding Copacabana Palace, Rio de Janeiro, which was partially closed for planned renovation |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2013-02-21
- Fourth quarter total revenue down 1% to $128.0 million from $129.1 million in prior-year quarter; up 3% excluding Copacabana Palace
- Fourth quarter adjusted EBITDA down 3% to $19.6 million from $20.3 million in prior-year quarter; up 12% excluding Copacabana Palace
- Delivered significant progress on portfolio optimization strategy, including re-opening of extensively refurbished main building of Copacabana Palace in December; completing sales of The Westcliff, Johannesburg and, in January 2013, Porto Cupecoy, Sint Maarten, for combined proceeds of $45.0 million; and announcing renovation plans for Grand Hotel Europe, St. Petersburg and Charleston Place, South Carolina
- Positive early indications for 2013; bookings for total owned hotels up 11% from the same time last year
- Appointed John M. Scott III as President and Chief Executive Officer in November 2012 and named Ralph Aruzza as Chief Sales & Marketing Officer in February 2013
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