UPDATE: MKM Partners Upgrades Belmond (BEL) to Neutral
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Belmond Ltd. Reports Second Quarter 2016 Results
August 3, 2016 5:00 PM EDTTotal revenue (1) of $158.1 million, down $4.7 million or 3% from the prior-year quarter; up $0.6 million on a constant currency basis Same store revenue per available room (RevPAR) down 4% from the prior-year quarter; down 1% on a constant currency basis Total adjusted EBITDA of $38.1 million, down $2.8 million or 7% from the prior-year quarter; down 5% on a constant currency basis Net earnings attributable to Belmond Ltd. of $8.4 million, a $7.0 million decrease from the prior-year quarter; adjusted net earnings from continuing operations of $4.0 million, a $2.9 million decrease... More
