Rezidor Hotel Group AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Rezidor Hotel Group AB Converts Two Leases to Franchise Agreements
Rezidor Hotel Group AB announced the conversion of two lease agreements, the Park Inn by Radisson Malmo and the Park Inn by Radisson Hammarby Sjostad, in Sweden to franchise agreements. Combined, the two hotels comprise over 400 rooms and will remain under the Park Inn by Radisson brand. Ligula Hospitality Group AB will purchase the shares of the company which holds the lease agreements, Rezidor Hotel AB which will operate the hotels under franchise agreements beginning in the first quarter of 2013. The shares will be purchased for a symbolic EUR 1, while the net assets of the company are EUR 0.9 million. The 2012 forecasted EBITDA losses for the hotels are a combined EUR 0.8. Ligula Hospitality Group has over 375 employees and EUR 45 million in annual revenue. The group holds several local brands and among them is ProfilHotels with 10 hotels in Sweden and Denmark.
Latest Developments for Rezidor Hotel Group AB
- Rezidor Hotel Group AB Signs Eight Agreements for New Hotels; Enters Algerian Market
- Rezidor Hotel Group AB Appoints Deloitte AB as Auditors
- Rezidor Hotel Group AB Initiates Optimization and Cost Savings Program
- Rezidor Hotel Group AB Appoints Wolfgang M. Neumann as New President and CEO to Replace Kurt Ritter
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