MHP Hotel reports revenue growth amid lowered EBITDA guidance

MHP Hotel reported a 25.1 percent increase in revenue for the first half of the year, reaching 99.3 million euros. This growth was primarily driven by new hotel locations in Hamburg and Vienna. However, the company's EBITDA decreased to 0.2 million euros, down from 2.3 million euros in the previous year, partly due to a positive one-time effect of 4 million euros in the prior period.

Due to underperforming expectations at the Conrad Hamburg, rising energy costs for air conditioning, and a decrease in travelers from the Middle East linked to the Iran conflict, the company has lowered its full-year guidance. MHP Hotel now expects annual revenue between 220 million and 225 million euros and an EBITDA of approximately 8 million euros, down from the previous forecast of more than 10 million euros.

Despite the lowered guidance, CEO Jörg Frehse indicated at an investor conference that the company has sufficient cash to potentially issue its first dividend since listing, expressing a willingness to return value to capital market investors.