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October 26, 2006 07:09

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.Third quarter 2006 highlights – Continued growth in revenues and EBITDA

• 22.6% increase in consolidated revenue to MEUR 180.0 ( 146.9).
• Consolidated Profit after tax of MEUR 9.8 (18.8).
• Consolidated basic Earnings Per Share (2) amounts to EUR 70.8 (EUR 160.2), based on 100,000 shares outstanding.
• Growth in consolidated EBITDAR by 22.5% to MEUR 63.0 (51.4), with EBITDAR margin of 35.0% (35.0).
• Consolidated EBITDA improved by 13.0% to MEUR 18.6 (16.5), with EBITDA margin of 10.4% (11.2).
• Revenue per available room (RevPAR) (including leased and managed hotels) reached EUR 74 (72) and occupancy rate was 74% (74%).

Nine-month period 2006 highlights –Solid EBITDA margin improvement

• 24.3% increase in consolidated revenue to MEUR 521.9 (419.7).
• Consolidated Profit after tax of MEUR 20.2 (12.4).
• Consolidated basic Earnings Per Share (2) amounts to EUR 119.3 (96.1).
• Group equity per share (2) amounts to EUR 1.007,29 (Dec 05 888,72).
• Growth in consolidated EBITDAR by 37.3% to MEUR 174.7 (127.3), with EBITDAR margin of 33.5% (30.3).
• Consolidated EBITDA improved by 75.6% to MEUR 43.6 (24.8), with increase of EBITDA margin up to 8.4% (5.9).
• RevPAR (including leased and managed hotels) up by 7.5% to EUR 72 (67), and occupancy was 70% (68).
• Rezidor signed 23 contracts for new hotels during the nine-month period representing 5,485 rooms. The 23 contracts included 4 leased and 19 managed hotels.
• SAS Group announced on June 22nd its intention to prepare for a listing of its hotels business, Rezidor Hotel Group AB (“Rezidor”), through an initial public offering (the “IPO”) on the Stockholm Stock Exchange. This morning, on October 26, SAS published its intention to float (“ITF”), and the IPO is expected to be completed by the end of this year, subject to market conditions and final SAS Board approval. Carlson Hotels Worldwide has declared its intention to remain a significant shareholder.

(1) Rezidor SAS Hospitality Group AB under name change to Rezidor Hotel Group AB.
(2) Impacted by minority interests related to a preference share structure which has, since the balance sheet date, been collapsed. See section 2 of this report for a further discussion.

For inquires regarding the content of this report, please contact
Mr. Knut Kleiven (Deputy President and CFO) at +32.2.702.92.00 or
Mr. Per Blixt (Head of Corporate Communications & Investor Relations) at +32.2.702.92.24 (direct) or at +32.477.760.267 (mobile).
Rezidor is one of the fastest growing hospitality companies in the world, and as at 30th September 2006 has a portfolio of 272 hotels in operation or under development in 47 countries. Rezidor operates or franchises Radisson SAS Hotels & Resorts, Regent International Hotels, Park Inn and Country Inn within Europe, the Middle East and Africa. At present, SAS Group and Carlson Hotels Worldwide have 75 percent and 25 percent shareholdings respectively in Rezidor. In November 2005, Rezidor signed a worldwide license agreement with the Italian fashion house Missoni, to develop and operate a lifestyle hotel brand of the same name: Hotel Missoni. The corporate office of Rezidor is based in Brussels. For more information on Rezidor and its brands, visit

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