about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   INFRASTRUCTURE   |   GREEN   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Orbis Hotel Group posts record-high financial results in first half this year

Orbis Hotel Group announced financial performance of record high with 8.2 per cent increase of revenue up to 146.1 million Euro and operating EBITDA reaching 37.5 million Euro with 14.8 per cent growth comparing to H1 of 2015.

2016-07-29 10:34:10

"After the group outstanding performance in 2015, our results continued to grow at a remarkable pace in 1H 2016. Orbis can boast double digit RevPAR growth +10.2 per cent comparing to 1H 2105 thanks to operating indicators increase (+1.9 p.p. occupancy rate and +6.9 per cent average room rate) in the EE region. Financial performance was record high with +8.2 per cent increase of revenue up to 146.1 million Euro and operating EBITDA reaching 37.5 million Euro with 14.8 per cent growth comparing to 1H 2015. I am proud of Orbis Teams, who have been effectively bringing Company's strategy into life. Thanks to their commitment, common spirit of conquest and favorable economic situation we have been succeeding," said Gilles Clavie, President and CEO of Orbis.

Entering new markets in the region in January 2015 made Orbis much more agile and opened up new possibilities to further build company's value for shareholders. In order to operate an optimal hotel portfolio the Company effectively allocate its capital through asset management. In 1H the buy-back transaction of two leased hotels in Budapest was successfully carried out and the Management Board do not exclude further potential transactions, which would allow a more efficient hotel management.

According to company, at the same time, sale and franchise back transactions of non-strategic hotels illustrate Orbis approach to an active restructuring of hotel group. That enable the Company to reallocate cash to more profitable investments in new hotels, located in key destinations, and finance product improvement of existing portfolio. In 1H 2016 Orbis strengthened its leading market position by 6 new franchise hotels openings, which brought almost 650 new guestrooms. On top of that 6 new franchise or management contracts have been signed which would result in new hotels soon. during the next 2 years, the company plans to secure 23 hotel openings.




COMMENTS
'.$nr_comm.' comment:
'; } else { echo 'There are '.$nr_comm.' comments:
'; } while ($row = mysqli_fetch_array($result, MYSQLI_ASSOC)) { echo '
'.$row['nume'].": on ".$row['data']."
"; //echo str_replace('\n','
',$row['comentariu']); echo nl2br($row['comentariu']); echo '
'; } ?>

0 Comments  |  6895 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

2 Comments

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

3 Comments

Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi...

1 Comment

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...

1 Comment

Dacia receives 115.8 million RON in state aid from the Finance Ministry

The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.

1 Comment

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

1 Comment

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...