NH Hotels EBITDA Grows by 87% in the First Half of 2010By Nh Hotels, PRNE
Monday, August 2, 2010
MADRID, August 3, 2010 - NH Hotels has announced an 87% growth EBITDA across the first
half of 2010.
The negative environment that the sector suffered in the 2009
financial year presented a very positive advance in the first half of 2010.
The Group income reached EUR646.5M, a rise of 7.2%, and the EBITDA, which
shows the operational evolution of NH Hotels, reflected the significant
market recovery and an increase in productivity. The company generated an
EBITDA of EUR68M, practically double the same period of 2009, which is
fundamentally due to the improvement in hotel activity in all the markets in
which NH Hotels operates.
The income from the hotel activity grew by 8.3%, as a consequence
of an increase in occupancy in all the markets where the company operates in
the first half of the year. The increase in the levels of occupancy, of 12.4%
in comparable hotels, permitted the RevPar (ratio that measures income per
available room) to make an increase of 7.2%. During the second quarter of
2010, the fall in prices has been halted completely, contributing positively
to the increase in RevPar. The considerable increase in hotel activity
contrasts with the slight increase in costs of 3.6%, thanks to the cost
containment plan that the company has maintained during the first half of
In Spain and Portugal, the fall in average prices began to
stabilise and for the first time since the beginning of the crisis, the
activity showed a positive result in RevPar, 4.84% in comparable hotels.
Principally, there has been an increase in sales at weekends with especially
good performances for the groups hotels in Madrid (
www.nh-hotels.com/nh/en/hotels/spain/madrid.html) and Barcelona, with
increases in occupancy that are greater than 20%.
Despite the fact that Benelux is the business unit which had the
lowest increase, the rises in occupancy together with a slowing of the rate
of fall of average prices resulted in a positive RevPar in the first half.
The recovery in this business unit is marked fundamentally by the behaviour
of the activity of the Amsterdam hotels (
those in Brussels, compared with a slower evolution in the secondary towns.
Germany showed the best evolution of all the markets where NH
Hotels operates, reaching a growth in RevPar of 17.4% in comparable hotels.
This increase in income was driven by an increase in occupancy of 9.8% and
growth in the average price in Germany of 6.8%.
Customer satisfaction scores across NH Hotels for the first
quarter of 2010 showed a continued increase, reaching a score for July this
year of 8.42 out of 10 (29,471 respondents) compared with 8.32 in 2009
About NH Hotels
NH Hotels ranks third among European business hotels. NH Hotels
currently has 395 hotels with 59,113 rooms in 25 countries in America, Africa
and European destinations with a wide selection of Zaragoza hotels
(www.nh-hotels.com/nh/en/hotels/spain/zaragoza.html), Valencia hotels
(www.nh-hotels.com/nh/en/hotels/spain/valencia.html) and hotels in
Turin (www.nh-hotels.com/nh/en/hotels/italy/turin.html). NH Hotels has
27 new hotel projects under construction, which will provide 4,000 new rooms.
NH Hotels stands out in quality both as regards services and
facilities, with very carefully thought out decoration, intended to please
all tastes and making the guest feel comfortable. NH Hotels' establishments
offer the most advanced technologies designed to facilitate the guest's
communication as well as his work and leisure.
NH Hotels is a responsible company in the Tourism industry. The
Chain offer hotel services which anticipate present and future needs of both
our internal and external stakeholders (Employees, Clients, Shareholders,
Suppliers, Environment, etc.), the communities where we operate and future
generations with maximum attention to detail and efficient and sustainable
NH Hotels is listed on the Stock Exchange of Madrid.
For further information please contact: Departamento Prensa NH Hotels Santa Engracia 120 Edificio Central Madrid Spain +34914519762 www.nh-hotels.com
For further information please contact: Departamento Prensa, NH Hotels, Santa Engracia 120, Edificio Central, Madrid, Spain, +34914519762
Tags: August 3, Madrid, Nh Hotels, Spain