January 17, 2018 / 6:40 AM / 3 months ago

BRIEF-Rezidor targets annual sales growth of 6-7 pct in 2018-2022 period

Jan 17 (Reuters) - Rezidor:

* REG-THE REZIDOR HOTEL GROUP ANNOUNCES ITS 5-YEAR OPERATING PLAN AT THE INVESTORS DAY

* SAYS ‍BASED ON A THOROUGH DIAGNOSTIC AND ANALYSIS OF CURRENT PERFORMANCE AND FUTURE UPSIDE OF BUSINESS, REZIDOR AIMS TO DELIVER REVENUE GROWTH OF 6-7% ON AN ANNUAL BASIS​

* SAYS ‍EBITDA MARGIN IS EXPECTED TO REACH 13-15% BY END OF 2022​

* SAYS ‍AS INVESTMENTS ARE NEEDED TO SUCCESSFULLY ACHIEVE THESE TARGETS, PERFORMANCE WILL BE MODEST OVER PHASE 1 OF OPERATING PLAN (2018 - 2020) WHERE BASICS OF GROWTH WILL BE PUT IN PLACE​

* SAYS ‍HIGHER GROWTH CAN BE EXPECTED BETWEEN YEAR 2021 - 2022​

* SAYS ‍AS PART OF NEW GLOBAL BRAND ARCHITECTURE LAUNCH, REZIDOR WILL REPOSITION 30-35 OF ITS HOTELS WITH A TOTAL CAPEX OF EUR 140-150 MILLION​

* SAYS ‍COMPANY WILL ALSO INVEST EUR 75-EUR 80 MILLION IN FIXTURES, FURNITURE AND EQUIPMENT (FF&E) AND KEY MONEY IN NEW HOTELS​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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