• Margins up at Rezidor

Rezidor raised revpar 5.8% in 2013, with a 5.4% rise in the fourth quarter as both room rates and occupancy improved. A strengthening euro, and the exit of hotel leases in late 2012, meant 2013 revenues slipped slightly, compared with the previous year.

Ebitda margin improved to 10.9% in the final quarter, putting it up 8.8% for the full year. Renegotiation of deals on existing hotels will feed through further improvements in the coming year.
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