Radisson Group: Keeping in Line with Five Year Plan
Friday, March 15, 2019
Carlson Rezidor had rebranded as Radisson Hotel Group in 2018 in attempts to become one of the three ‘top of mind’ hotel businesses. The profit made by the group was £3.1 million according to the end of year financial report reviewing the previous 12 months and ending in December 2018, comparing to the £3.8 million in the year before. The earnings before interest, tax, deprecation etc. had climbed by 26.3% to £89.1 million, while noticing that revenue had dropped to a 0.8% decrease to £824.1m; though the revenue per available room had increased by 1.8%.
During the fourth quarter, the group’s revenue increased 1.8% due to strong performance in the like-for-like hotel portfolio.
It is said that operating costs in the fourth quarter were higher than previous months, and that Radisson expects like-for-like revenue, including hotels that are going through renovations, to increase by up to 5% for this year.