International Hotel Investments plc – Audited Financial Statements for the year ended 31st December 2014

 International Hotel Investments plc registered a loss before tax of €29.8m for the financial year ended December 31, 2014, compared to a €4m loss registered in 2013. Revenue for the period under review amounted to €116.4m.

In view of the prolonged instability in Libya and economic conditions in the Russian Federation, revenue generated by Corinthia Hotel Tripoli and Corinthia Hotel St Petersburg declined by €16.1 million. However, such a reduction was principally compensated by increased revenues by the Group’s other properties in Europe and therefore the overall decrease in income amounted to €7.4 million – a 5.9% decline from 2013. Revenues do not include the Group’s 50 per cent share in the London hotel.Meanwhile, loss per share amounted to €0.03. 

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