May 14, 2020 / 4:44 PM / 11 days ago

BRIEF-NH Hotels Q1 Recurring Net Loss Widens To 58.6 Mln Euros YoY

May 14 (Reuters) - NH Hotel Group SA:

* Q1 RECURRING NET LOSS 58.6 MILLION EUROS VERSUS LOSS 17.3 MILLION EUROS YEAR AGO

* Q1 REVENUE 279.4 MILLION EUROS VERSUS 352.7 MILLION EUROS YEAR AGO

* Q1 EBITDA BEFORE ONEROUS 30.9 MILLION EUROS VERSUS 83.5 MILLION EUROS YEAR AGO

* Q1 OCCUPANCY RATE AT 46.3% VERSUS 65.9% YEAR AGO

* ESTIMATES THAT RECOVERY WILL BE INITIALLY DRIVEN BY DOMESTIC DEMAND AND WILL TAKE ADVANTAGE OF ITS STRONG PRESENCE IN MAIN EUROPEAN AND LATIN AMERICAN DESTINATIONS

* Q2 WILL BE THE MOST IMPACTED MONTHS DUE TO THE SEVERE LOCKDOWN ACROSS EUROPE Source text: bit.ly/2T50qrr Further company coverage: (Gdansk Newsroom)

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