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8 months ago
BRIEF-Rezidor exits six leased UK hotel contracts
December 23, 2016 / 7:05 AM / 8 months ago

BRIEF-Rezidor exits six leased UK hotel contracts

Dec 23 (Reuters) - Rezidor Hotel Group Ab

* Rezidor exits six leased hotel contracts in the UK and capitalizes previously unrecognized tax losses

* Says in 2016, we have successfully completed 15 such transactions. Over the past 5 years, our asset management initiatives targeting a continuous portfolio optimization have yielded 17M EBITDA contribution and 1.8 percent uplift in EBITDA margin

* Rezidor says exits will positively impact Rezidor's annual EBITDA by ca. £1.5m (ca. Eur 1.8m)

* Says total amount of tax losses recognized amounts to EUR 23.8 million. Going forward this should lead to a more normalized tax rate for the group Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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