The Rezidor hotel group reports a profit after tax of minus 6 million euros for the fourth quarter of 2017 (16.9).

Earnings per share amounted to minus EUR 0.04 (0.10).

Net sales amounted to EUR 242 million (243).

Comparable revenue per available room (RevPAR) for hotels under lease and management agreements increased by 4.3 percent compared to the previous year, driven by both higher room rates and increased occupancy. For hotels under lease, the increase was 2.7 percent.

EBITDA was EUR 16.8 million (23.1). The result was negatively affected by EUR 6.6 million higher restructuring costs and EUR 0.9 million higher costs for doubtful accounts.

No dividend is proposed.

Source: Nyhetsbyrån Direkt