Press release 31/03/2008
Astir Palace Vouliagmenis SA announces highlights of its 2007 full year results as follows: Total revenues of Euro 26.8 mil, an increase of 3.2% year on year, against Euro 25.9 mil for2006. It must be taken into consideration that the complex operated two out of its three hotelsdue to the renovation of hotel “Aphroditi”.
This positive performance was achieved due to the increase of occupancy and revenue peravailable room of hotels «Arion Resort & SPA» and «The Westin Athens» by 16% and 33%respectively, compared to the prior year .
2007 EBITDA is reported at a loss of Euro 2.5 mil against loss of Euro 11 mil in the prior year.
It is noted that complex results were negatively impacted from reorganization costs and thatthe above evolution is observed during a period of limited potential due to renovation projects.
THE BOARD OF DIRECTORS
