Financial

Total Revenues were $804.9 million, a 13.6% increase compared to the same quarter in 2018, due mainly to an increase in the number of Installed Room Nights at the Chain level and to ADR growth.

Year to date, the Baird/STR Hotel Stock Index is up 21.3%

Year to date, the Baird/STR Hotel Stock Index is up 14.1%.

Total revenues increased 20.1% from the first quarter of 2018 to RMB235.3 million (US$35.1 million) for the first quarter of 2019.

Pro forma RevPAR increased 1.3%, driven by a Pro forma ADR increase of 2.0%

The calendar and current situation in part of the Americas and Canary Islands are behind the fall in EBITDA (-4.5%) and Net Profit (-23.2%) compared to Q1 2018

Year to date through the first four months of 2019, the Hotel Stock Index is up 20.1%.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first quarter were $72.4 million, an increase of 8% from the same period of 2018.

Net income decreased 53.4% to $17.9 million. Excluding the effect of the gain on the two hotels sold during the first quarter of 2018, net income would have decreased 21.4%.

Net sales rose by 7.3% to 4,066 MSEK (3,791). Organic growth was 4.7% while sales for comparable units grew by 2.5%. More rooms in operation contributed with 2.2% to sales growth.