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Alchemy Japanese Leisure Hotels’ EBITDA up 10% in 2010

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Alchemy Japan’s Japanese Leisure Hotels reported an EBITDA of JPY564 million in 2010, a 10% improvement on the previous year, and a Net income of JPY909 million being a 9% growth on net income for 2009.

Sales grew to JPY2.036 billion, a 4.3% increase on 2009, while Revenue growth was led by an 18% increase in customer numbers as 2010 average Occupancy Rate (OCR) reached 257%.

According to Alchemy Japan CEO Miro Mijatovic. the positive results can be attributed to a combination of factors including the success of the firm’s operating partner, Urban Resorts Japan’s “Guaranteed Value” customer retention and acquisition strategy evidenced by OCR increasing by 18% and the 8% increase in Food & Beverage revenues. In addition, Mijatovic believes the systemisation of Alchemy’s yield maximisation processes has enabled specific analysis, precise examination and quicker reaction times to changes in the competitive market environment at each hotel and customer preferences.

Despite the weakening economic conditions in Japan we have achieved our greatest revenues and net income growth in the second half of 2010, with the end of year holiday period in particular achieving record revenues,” say Mijatovic “Our hotels and operating procedures have been updated to comply with the new regulatory changes governing Leisure Hotel operations and we are well placed to continue both revenue and bottom line growth in 2011."

Alchemy Japan’s management anticipates that their 2011 leisure hotels’ earnings will maintain or exceed the growth levels achieved in 2010.

“We expect to see significant opportunities for acquiring new hotels as a large number of hotel owners seek to exit their investments due to liquidity constraints, distress in their financing arrangements and the impact of the new regulations,” says Mijatovic.

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