• Strategic narrows loss

Strategic Hotels & Resorts cut its second-quarter net loss to $47.4m (£30.3m) from $86.0m in the same period last year.

Revenue was $195.97m, up from $185.40m, with Ebitda increasing 4.6% to $35.1m. North American total revpar rose 5.9%, with Europe seing 4.9% growth.  CEO Laurence Geller said: "We are especially encouraged by significant revenue and profitability growth which was driven by broadly improving lodging demand and strength within both the corporate group and transient segments of our business."

See the full release here:

Share →