Rezidor’s Rocky Q1 Includes Entry into the Economy and Millennial-Friendly Sectors
Photo Credit: The interior of the first Radisson Red property, which opened on April 18 in Brussels. Radisson Hotels and Resorts
Skift Take
Although Carlson Rezidor saw one of its best years, financially, in 2015 since 2007, 2016 is proving to be a challenging one for the company, which has also been rumored to be up for sale.
Rezidor Hotel Group released its first quarter earnings on April 21 and saw a total revenue decrease of 4.3 percent to approximately $233.71 million, compared to $244.3 million in the first quarter of 2015.
Earnings before interest, tax, depreciation and amortization (EBITDA) was down $10.4 million. Like for like revenue per available room (RevPAR) was up 1 percent thanks to an increase in average room rate and lower occupancy numbers.
"The first quarter is usually weak, and this year was further impacted by
