International Hotel Investments’ shareholders will be getting their first ever dividend after the company made a record €14.9 million profit after tax in 2017, reversing the €7.7 million post-tax loss it had registered the previous year.
The luxury hospitality and real estate group – focused on the Corinthia hotel brand – held its annual general meeting on Tuesday and confirmed what its chairman Alfred Pisani had said in April.
Read: Record-breaking profits for International Hotel Investments
In a letter to shareholders, group chairman Alfred Pisani had hailed the company's "outstanding" results in 2017 and said the company board was discussing the possibility of shareholders getting an interim dividend later this year, once the process of rationalising the parent company's balance sheet made it possible".
The group had listed its shares in 2000.