Belmond Ltd. (BEL) Tops Q1 EPS by 9c

Belmond Ltd. (NYSE: BEL) reported Q1 EPS of ($0.02), $0.09 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $99.1 million versus the consensus estimate of $98.34 million.

"In addition to driving strong near-term results, we have remained focused on executing against our long-term strategic plan. We continued to re-invest in our portfolio during the quarter, focusing on projects with attractive forecasted returns that we expect will improve performance and drive greater value from our existing assets. We also maintained our focus on expanding our global footprint through our investment in Belmond Grand Hibernian, which will allow us to bring our luxury train operating expertise to Ireland starting with the train's scheduled inaugural journey in August. I am pleased with the progress we have made at this early juncture in 2016 and expect to gain more traction as we continue to execute on our strategic plan.

"Looking forward, we continue to forecast healthy year-over-year growth for the full year 2016. Although we currently see potential challenges for select parts of our portfolio in the second quarter, we expect that this temporary softness will be more than offset by a strong third quarter. We anticipate that our third quarter growth will come largely from increased demand for our European hotels during their peak summer months as well as the benefit of the Summer Olympic Games on Belmond Copacabana Palace in Rio de Janeiro, Brazil. For the full year 2016, we are maintaining our guidance for same store, constant currency RevPAR growth of between 3% and 7%."

For earnings history and earnings-related data on Belmond Ltd. (BEL) click here.

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