Orbis with PLN 232 mln profit in 2017

WSE-listed hotel operator Orbis posted a consolidated net profit of PLN 232.44 million in 2017, up from PLN 207.15 million last year. Operational profit stood at PLN 315.68 million, up by 19.4 percent y/y, while consolidated revenue reached PLN 1.45 billion, a 5.4 percent y/y growth. “Positive economic conditions in the CEE region, high demand for hotel services in 2017, as well as numerous promotional offers and a flexible pricing strategy adapted to the current conditions in individual markets, contributed to the increase in attendance and average room rates, and as a result, the revenue per one available room in the group's hotels increased,” the company said. Lfl revenue for one room stood at PLN 184.1, up by 6.5 percent y/y.