10th May 2016
EXCELLENT Q1 REVENUE PERFORMANCE EXCEEDING GUIDANCE
Q1 '16 Revenue growth of +8.5% reaching €301.8M (+€23.7M) above mid single digit guidance despite:
Negative currency impact mainly in Latin America: -€10.2M
Refurbished hotels in Q1 '16: -€4.3M
Easter effect in Germany: -€1.6M
Lower contribution of Belgium hotels: -€0.8M
Isolating the currency effect in the quarter (Argentine Peso -63%; Colombian Peso -29% and Mexican Peso -19%):
Consolidated revenue increased by +12.2% (+€33.9M) including Refurbishments and perimeter changes
LFL revenue increased by +9.1% (+€20.6M)
+12.2%
-10.2 (2)
+8.5%
R. '15: +4.8M (+22%)
R. '16: -4.3M
+9.2%(1)
+7.9%(1)
Growth contribution +7.4% +0.2% +4.6% +12.2% -3.7% +8.5%(1) On its 2015 own base
(2) -€6.4M en LFL
BUILDING UP THE NEW NH 2
REPORTED REVENUE GROWTH SUPPORTED BY ALL GEOGRAPHIES
Spain: +20.3%. Outstanding performance above high teens guidance
Italy: +7.7%. In line with the guidance of high single digit
Benelux: mid single digit target excluding reforms achieved (+5.9% LFL). Reforms of the quarter negatively impacted in -€3.7M but in line with the plan. LFL Brussels evolution (-17% ) offset by the better performance of Amsterdam (+28%)
Central Europe: +2.4%. Low single digit growth including reforms ahead of guidance. Impact of timing of Easter estimated c.-€1.6M and in line with the plan
LatAm: +24.4% excluding currency effects . Very positive trend in local currency across all markets
+20.3%
+7.7%
-2.1%
+2.4%
+24.4%
+12.2%
+8.5%
Like for Like & Reforms +7.9%
Revenue LFL
+18.2%
+5.3%
+5.9%
+2.7%
+27.5%
Total Revenue
+18.6%
+12.6%
-2.4%
+2.3%
+22.0%
Total Rev. LFL ex. currency effect = +9.2% Total Rev. LFL = +6.4% (reported)
BUILDING UP THE NEW NH 3
SIGNIFICANT BETTER REVPAR PERFORMANCE AHEAD OF COMPETITORS
Successful tactical approach of a combined mix of Occupancy/ADR taking into account the seasonality of the Business across the year (Q1 '16 has an occupancy of 8 b.p lower than the average of the rest of the quarters of 2015)
RevPar: +6.5% (52% through ADR). At constant exc. Rate +10.0% (69% through ADR)
ADR: +3.4% or +€2.7. At constant exc. Rate +6.9% or +€5.6 enabled by refurbishments and pricing strategy
Occupancy: strong demand growth in Spain (+11.3%) and Italy (+4.7%)
Occupancy Q1
59.4%
60.3%
ADR (€) Q1
81.2
83.9
58.6%
75.3
2014 2015 2016
2014 2015 2016
Ability to grow prices ahead of competitors (STR*):
Positive evolution of the ADR relative growth vs competitors in a low season quarter. Relative RevPar increase +7.8% vs competitors
RevPar % var
"Relative"
RevPar
NH
Comp Set
RGI % var
Total NHH
11.0%
3.2%
7.8%
Spain
19.5%
6.8%
12.6%
Italy
4.2%
-2.8%
7.0%
Benelux
6.8%
5.9%
0.8%
Central Europe
5.3%
0.2%
5.1%
Occupancy / ADR mix strategy has enabled to replace the segmentation change started in 2015, with a remarkable higher occupancy growth: NHH +5.5% vs -1.9% for competitors
RevPar (€) Q1
50.6
47.5
44.8
2014 2015 2016
(*) STR/MKG/Fairmas Competitive Set Average Growth
BUILDING UP THE NEW NH 4
NH Hotel Group SA published this content on 10 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 May 2016 17:36:03 UTC.
Original documenthttp://corporate.nh-hotels.com/upload/files/Results Presentation Q1 2016.pdf
Public permalinkhttp://www.publicnow.com/view/989F640322F88CE4F940A82238D7CA3D41472CB1