Kingdom Hotel Investments ("KHI" or "the Company"), (LSE: KHIq), the leading emerging markets focused hotel investment company, today confirms that KHI Adjusted EBITDA, excluding real estate sales, for the year ended 31 December 2009 will be in line with market expectations at $61 million. Reported Net Income is expected to be ahead of 2008 at $21 million.
KHI will announce its full preliminary results for the year ended 31 December 2009 on 15 March 2010.
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KHI Adjusted EBITDA is KHI EBITDA adjusted for the full impact of the Company's share in the EBITDA of unconsolidated equity investments and the share of KHI minority partners in the EBITDA of our subsidiaries. The KHI Adjusted EBITDA measure does not include the effect of actual cash distributions from our equity investments or cash distributed to minority shareholders. KHI Adjusted EBITDA, excluding real estate sales, is viewed as the most relevant valuation metric by its management.
KHI, headquartered in Dubai (UAE), is the leading international hotel and resort acquisition and development company focused on high growth emerging markets such as the Middle East, Asia, and Africa.
The company has ownership interests in 26 properties in 18 countries, including 22 operating hotels and resorts, and four hotels and resorts currently under construction. KHI is listed on NASDAQ Dubai and the London Stock Exchange.
For further information, please contact:
Brunswick Group
Kate Holgate (London)
+44 207 404 5959
Rupert Young (Dubai)
+971 4 365 8260
© Press Release 2010
