S&P turns Hotelbeds view to positive

S&P said it revised its outlook for HNVR Midco Ltd. (Hotelbeds) to positive from stable and affirmed its CCC+ ratings.

Hotelbeds’ total transaction volume during 2022 rebounded to deliver S&P Global Ratings-adjusted EBITDA exceeding €150 million. “We anticipate this positive momentum will continue in 2023 amid the lifting of travel restrictions across the globe, and despite macroeconomic uncertainty. We expect the group's revenue for 2023 will exceed €700 million with EBITDA margin up to 33%-35%, pushing adjusted debt to EBITDA marginally below 8x,” the agency said in a press release.

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