International Hotel Investments (IHI), the publicly traded company of the Corinthia Group, has reported a 30 per cent rise in operating profit for 2015. The company's operating profit (EBITDA) for last year stood at €44 million compared with €34 million in 2014, marking an increase of €10 million. The above figure includes earnings from wholly-owned subsidiary companies as well as from companies in which IHI has a 50 per cent share. IHI's total asset base went up to €1.16 billion in 2015, a 15 per cent rise over the previous year. IHI chairman Alfred Pisani said: "I am hugely satisfied that we have managed to increase profitability in practically all our operations. "This shows that our strategy to export our brand on a global level – and to operate as a multifaceted business which provides a unique blend of development know-how, project management and ultimately hotel operations – is paying off. "We intend to continue building on this and hope to be in a position to announce new projects in prime locations in the coming weeks to complement Corinthia's growing portfolio of luxury hotels." IHI has also approved a three per cent bonus share issue to all shareholders on the...
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