Hotel operator Orbis’ Q1 loss deeper than expected
May 9, 2014
Hotel group Orbis, a unit of France's Accor, posted a net attributable loss of PLN 10 million in Q1 2014, below the consensus call for PLN 7.6 million net loss and deeper than the PLN 6 million loss posted in Q1 2013, the consolidated Q1 report showed.
Revenues rose by 3% year on year to PLN 128.5 million and were in line with the preliminary figure pre-released by the company mid-April. Like-for-like revenues rose by 1.4% y/y in Q1 to PLN 126.4 million, the management said, noting that "the positive economic trend started in H2 2013 is maintained in 2014."
The firm noted a demand increase in "cities important for the group" and expects this trend to be maintained in the coming months, the management commented in the statement.