Oct 30th 2012 - Edison Investment Research today published a report on leisure entitled "Step By Step". In summary, the report says:
Despite a slowdown in key markets Rezidor continues to improve returns, albeit from a meagre level. Q3 saw a meaningful gain in like-for-like EBITDA margin driven by a near 5% rise in RevPAR and, significantly, a 20% increase in fee income. While the new strategy to transform profitability by 2015 via revenue generation and fee-based growth is exciting in itself, there is reassurance in management’s recent recognition of the need for material supporting efficiencies in tough times. The 2013 opening programme remains strong, as do finances (€5m net cash at September).
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