PPHE Hotel Group Ltd (PPH.L) on Wednesday announced that its revenue in the first quarter came in at 77.6 million pounds, up 0.7 percent from last year quarter's 77.0 million pounds.
The company said that like-for-like revenue, however, fell 5.6 percent, impacted by the leap year comparison and Easter coming in the second quarter of the year. "These factors delayed the seasonal opening of our Croatian leisure portfolio and impacted trading in the UK and Dutch markets, PPHE Hotel Group added.
According to the hospitality real estate group, like-for-like occupancy was stable at 70.5 percent, compared to last year's 70.4 percent. The average room rate declined by 3.6 percent to 134.3 pounds from 139.3 pounds in the year-ago quarter, as a result of the ongoing normalisation of pricing across most regions.
Looking ahead, the company said that its Board is confident in producing fiscal 2025 results in line-with market expectations. Analysts, at present, expect a revenue range of 463.6 million pounds to 477.4 million pounds and an EBITDA range of 148 million pounds to 158.6 million pounds.
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