Eden Leisure Group has reported an increase in overall revenue of 13 per cent from €20.3 million to €23 million for 2011.

The group’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 23 per cent from €4.4 million to €5.5 million for the year after improved results in the hotel and entertainment segments of its portfolio in spite of uncertainty in the international markets and a continued increased burden in utility rates and labour costs, the group said.

Last year, InterContinental Malta continued to achieve significant improvements over the previous year. Revenue increased by 19 per cent and EBITDA rose by 33 per cent to €3.6 million on 2010 figures. Occupancy improved by 11 per cent to a record 69 per cent against a five-star industry average of 67 per cent. This result was described as “extremely positive” considering the InterContinental in St Julian’s is the largest hotel on the island.

Notably, results show that occupancy is improving at a faster rate than those of the rest of the competitor set of five-star hotels which last only year improved by three per cent. The hotel’s average rate also continued to improve with a growth of eight per cent as compared to an industry increase of four per cent, the group said.

The entertainment portfolio made up of Eden Cinemas, Eden SuperBowl, Cynergi Health and Fitness Club, the Bay Arena, 89.7 Bay and the car park saw significant growth in the year which is particularly positive due to the maturity of these businesses.