RDC) share price is sliding today

The Redcape Hotel Group Pty Ltd (ASX: RDC) share price has slumped lower this afternoon after the group released a key trading update.

At the time of writing, the Redcape share price is sitting 0.53% lower at 93 cents per share.

Why is the Redcape Hotel share price sliding lower?

The Aussie hotel group provided a trading update alongside its interim distribution, debt extension and acquisition news.

According to the announcement, Redcape’s business is “performing strongly” as coronavirus restrictions continue to ease.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) is tipped to increase, despite higher COVID-related compliance operating costs.

Redcape is forecasting first half operating…