HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 10, 2012) - Royal Host Inc. (the "Company") (RYL.TO) (RYL-DBB.TO) (RYL-DBC.TO) (RYL-DBD.TO) today provided an update with regard to its previously issued RevPAR guidance for the third and fourth quarters and full year 2012. Whereas the Company had previously expected RevPAR for its comparable hotels to be up 1.5% to 2.5% in the third and fourth quarters and up 1.0% to 2.5% for the full year; based on its results through September, it now expects RevPAR at its comparable hotels for the third quarter to be flat, its fourth quarter RevPAR to decline relative to the fourth quarter of 2011 and its full year RevPAR growth to be flat to down 1.0%. John Carnella, Royal Host's President & CEO, commented that "While we did experience RevPAR increases at the majority of our comparable hotels in the third quarter, these increases were offset by RevPAR declines at our other hotels. We saw a slight improvement in occupancy relative to the third quarter of 2011, but we have not seen the recovery in pricing which we expected."
The Company expects to release its third quarter and year-to-date financial results on November 14, 2012.
Forward Looking Statements
This press release may contain certain forward-looking statements relating, but not limited to, the Company's operations, anticipated financial performance, business prospects, and strategies. Forward- looking information typically contains statements with words such as "anticipate", "does not anticipate", "believe", "estimate", "forecast", "intend", "expect", "does not expect", "could", "may", "would", "will", "should", "budgeted", "plan" or other similar terms and expressions suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from further results expressed, projected or implied by such forward-looking statements. Readers are therefore cautioned that the Company's expectations, estimates and assumptions, although considered reasonable, may prove to be incorrect and readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are not guarantees of future performance and involve certain risks, uncertainties and other factors that are difficult to predict, and could result in the outcome of such events being materially different from those indented, planned, anticipate, believed, estimated or expected in this news release. Such factors and assumptions include, but are not limited to, general economic conditions, levels of travel in the Company's key market areas, political conditions and events, competitive pressures, changes in government policy or regulations, and lodging industry conditions. The Company does not undertaken any obligation to update or release any revisions to these forward- looking statements to reflect events or circumstances, unanticipated events or circumstances, or should its estimates or assumptions change, after the date hereof, except as expressly required by law.
About Royal Host Inc.
Royal Host Inc. is a diversified hospitality company that delivers shareholder value through hotel ownership, investments and franchising. The Company's hotels, which contain approximately 2,957 rooms, are located in five Provinces and Territories across Canada. Twenty of the Company's hotels operate under internationally recognized brands such as Travelodge (R), Super 8 (R), Holiday Inn (R), Hilton (R), Ramada (R) and Country Inns and Suites (R). Three of the Company's hotels are independently branded. In addition to its real estate holdings, the Company owns and operates the Travelodge Canada franchise business which is currently comprised of over 90 hotels across nine Provinces and Territories.
The Company's common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D" respectively.
This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.
- Investment & Company Information
Royal Host Inc.
Chief Financial Officer