Orbis Hotel Group, also present in Romania, recorded revenues of EUR 169 million in 2014, an increase of 3.1% compared to the previous year, and a net profit increase of 34.7% compared to 2013.
Operational EBITDA, excluding the impact of one-off events, totaled EUR 49.6 million and exceeded the estimates of EUR 48.7 million.
In 2014, the company reported a substantial increase in net profit, up 34.7% compared to 2013. These results were not influenced by the 38 hotels that Orbis recently acquired, as the transaction was finalized on January 7, 2015.
Orbis purchased 46 hotels from the Accor network in Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia. Of these, 7 hotels are in Romania. The transaction amounted to EUR 142.3 million.
Source: Wall-Street
Frequently Asked Questions
What were Orbis Hotel Group’s financial results in 2014?
In 2014, Orbis recorded revenues of EUR 169 million (up 3.1%) and a net profit increase of 34.7% compared to 2013.
How many hotels did Orbis acquire from Accor?
Orbis acquired 46 hotels across Central and Eastern Europe, including 7 in Romania, for a total of EUR 142.3 million.
Did the 2014 results include the new acquisitions?
No, the 2014 financial results did not include the newly acquired hotels, as the transaction was finalized in early January 2015.