PPHE Hotel Group Limited Announces Unaudited Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year of 2013
Total revenue decreased by 0.3% to 176.4 million from 177.0 million for the nine months ended September 30, 2012. On a constant currency basis, total revenue for the nine months ended 30 September increased by 3.1% to 182.4 million. RevPAR decreased by 1.1% to 100.2 from 101.4 for the nine months ended September 30, 2012, primarily as a result of soft trading conditions in the Netherlands at the beginning of the year and the weakness of Sterling.
Since 30 September 2013, trading has remained encouraging. The fourth quarter is traditionally the Group's strongest quarter and the Board expects full year results to be in line with expectations.