Balance Sheets since 2023

Munich. The Ringhotel cooperation reflects the industry of the German middle class. It has 130 hotels in the 4-star and upper 3-star segment. According to the annual report of 2008, the family-run hotels are asserting themselves well. The hotels not only achieved an increase in turnover but also in their booking volumes.

White Plains, NY. In the fourth quarter 2008, all figures declined. Starwood Hotels & Resorts Worldwide published its annual report yesterday. The worldwide system-wide RevPar for same-store hotels decreased 12.1% compared to the fourth quarter of 2007. During the twelve months ended December 31, 2008, total company adjusted EBITDA was 1.157 billion USD compared to 1.356 billion USD in 2007. For the full year 2009 Starwood assumes a decline of 12% of RevPar at same-store company operated hotels worldwide. Adjusted EBITDA would be approximately USD875 million and EPS before special items would be approximately 1.10 USD.

Paris. Accor's consolidated revenue totaled 7,739 million Euro in 2008, up 2.8% like-for-like compared with the previous year and down 4.7% on a reported basis. The 2008 profit before tax target confirmed at 870-890 million Euro, up 12% like-for-like, excluding the impact of the return to shareholders. In particular, the performance of the Economy Hotels was resilient.

Stockholm. Frank Fiskers, Scandic's President and CEO, is pleased with the results for the first half of 2008: "Scandic continues to enjoy positive development, with results showing improvements on last year in terms of revenues, profit and sustainability ratios."

Adliswil/Zurich. Moevenpick continues its upward trend in its 60th business year. Compared to the same period in the previous year, the Moevenpick Group increased its total turnover by 5.7% to 699.7 million CHF in the first half of 2008. The group's EBIT improved by 6.4 million CHF, amounting to 14.1 million CHF and nearly doubling the results of the previous year. Despite being delisted, the company published these figures last week.

Vienna. Warimpex Finanz- und Beteiligungs AG was able to achieve a significant increase in revenues, EBITDA and EBIT in H1 2008. With this performance, the company continued to pursue its growth objectives, despite the plunging real estate stock prices.

Bad Ragaz. Despite reduced capacities, the turnover of the Grand Resort Bad Ragaz AG in Switzerland was very satisfying in the first half of 2008. Although, the Grand Hotel Hof Ragaz and the Tamina Therme were closed in the course of the first half of 2008, the consolidated turnover of the AG amounts to 40.7 million CHF. Therefore, the consolidated turnover just decreased by 17%.

Paris. Accor SA, the largest European hotel group is going to grow again after a slimming diet: Due to asset disposals in the first half 2008, revenue declined 6.2% to 3.76 billion Euro. On a comparable basis revenue increased by 5.2%. Yesterday Accor SA, Paris reported these figures. The stock exchange was disappointed: Until noon, the shares broke in by 3.92% to 43.22 Euro.

Aachen. A pending action for avoidance regarding the announced squeeze out was the reason for NewGen Hotels AG in Moenchengladbach to stage another regular general meeting instead of - as it had been expected since last year - finally initiating the merger of NewGen and Accor Hotellerie Deutschland GmbH.

Interlaken. "The first half of 2008 brought us the confirmation we had hoped for: the strategic and structural reorientation of the Victoria-Jungfrau Collection is proving successful," says a happy Dr. Peter Bratschi, President of the plc's supervisory board. With an increase in turnover of 2.4 percent to 45.53 million Swiss francs, the gross operating income was able to be driven up by 4.5 percent to 20.74 million Swiss francs. This means that the GOI reached 45.5 percent of the company turnover.