Trading Update
22 Juli 2010 - 8:00AM
UK Regulatory
TIDMJPLH
RNS Number : 7270P
Japan Leisure Hotels Ltd
22 July 2010
22 JULY 2010
JAPAN LEISURE HOTELS LIMITED
(the "Company")
Trading Update
The Company is pleased to provide an update on current trading following the
announcement of its annual results for the year ended 31 December 2009.
As reported at that time, the Yokkaichi hotel was closed for renovation for the
majority of the first six months of the current financial year. Furthermore,
certain other hotels were experiencing reduced occupancy due to competitors
aggressively reducing prices and some hotels nearing their scheduled
refurbishment. The Asset Manager is taking immediate steps to address these
short term issues, where possible, and is confident that it they will be quickly
resolved.
As a result of the above, revenue and EBITDA levels for the year ending 31
December 2010 will be lower than current market expectations.
Nevertheless, the Board's long term confidence in the Company's business model,
based on the unique features of Japanese culture and demographics, remains
unchanged.
The Company will announce its half year results for the 6 months ended 30 June
2010 on Tuesday 28 September 2010.
Enquiries:
+---------------------------------------+---------------------------+
| Asset Manager | +81 3 4550 1808 |
| Steve Mansfield | |
+---------------------------------------+---------------------------+
| | |
+---------------------------------------+---------------------------+
| Shore Capital and Corporate Limited | 020 7408 4090 |
| (NOMAD to the Company) | |
| Dru Danford | |
| Stephane Auton | |
+---------------------------------------+---------------------------+
| | |
+---------------------------------------+---------------------------+
| Pelham Bell Pottinger | 020 7861 3112 or 07802 |
| Archie Berens | 442 486 |
+---------------------------------------+---------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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