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Trading statements

Action Hotels on track

23 August 2016 07:12

Action Hotels expects its interim results to be in line with market forecasts.

The group said its operational performance was positive for the first half of the year, with both the Middle East and Australian hotels contributing strong average occupancies.

The top performers among the Middle East based hotels were once again the Kuwaiti hotels, ibis Sharq and ibis Salmiya, which delivered occupancy rates of 92% and 83% respectively.

The Australian hotels also performed well: the recently acquired ibis Budget Melbourne Airport delivered occupancy rates above 91% and Action's newest and largest hotel, ibis Styles Brisbane, has shown encouraging early trading figures with occupancy of over 51% in its third month since opening.

The group will have 3,186 rooms upon completion of the pipeline hotel developments.

Story provided by StockMarketWire.com

Related Company: AHCG

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