Financial Results

Cologne. "The situation is tense but under control," said Elke Schade, Managing Director of Dorint GmbH, right at the beginning of the annual press conference on Wednesday in Cologne. The year 2008 concluded with an increased gross operating profit of 6.8% in comparison to 2007. The crisis mainly affected the Dorint Hotels abroad in the first five months of 2009, and therefore the GOP decreased by -6.9% at the end of May compared to the same period in 2008. Concerning individual operative figures, Dorint Hotels & Resorts are no worse off than other national or international hotel groups. One problem of the young hotel company, which was re-founded three years ago, is still the exorbitant the inflexible lease agreements. Four times in a row, there have been talks with the owners in order to obtain lease reductions. Measures have been undertaken to be able to meet the crisis on a daily basis. Schade does not wish to give an economic prognosis for 2009. But Dirk Iserlohe, Managing Director of Dorint's parent company E&P Holding in Cologne, gave a separate, detailed interview for hospitalityInside.com.

Utrecht. By July 1, 2009, the Dutch law firm dealing with the insolvency proceedings of Golden Tulip will come to a decision. It seems that four parties have applied for continuation of company operations.

Interlaken. The President of the Administrative Board of Victoria-Jungfrau Collection, Peter Bratschi, could breathe a sigh of relief after the shareholders meeting on 22nd May. The 661 shareholders attending the 114th  GM in Interlaken represented 80.8% of total share capital of 28 million CHF. All motions were approved and the mood was lively, in spite of the crisis.

Zurich. Dolder Hotel AG, to whom Dolder Grand and Dolder Waldhaus belong, generated a turnover of 44 million Swiss francs last year, but also had to face a net loss of 22.9 million francs.

Palma de Mallorca/Madrid. Spanish hotel companies Sol Meliá and NH Hoteles announced first quarter losses in 2009 compared to same period in 2008. Both started strict cost management measures and try to optimize their financial situation. While Sol Meliá signed a syndicated loan and a mortgage loan, NH plans a capital increase. Both stay optimistic. While Sol Meliá still earns little money, NH loses a lot of money.

Hamilton, Bermuda. Orient Express Hotels, owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries announced a net loss of 14,6 million USD during the first quarter ended March 31,2009. The disposal of non-core assets shall help.

Wiesbaden. Groupe B&B Hôtels looks back at a successful 2008. The French chain which includes the German subsidiary of B&B Hotels GmbH, managed to increase its revenues by 7.8 percent to 162 million euros compared to 2007.

Wiesbaden. The first quarterly figures do not augur well. In particular, the upper segment chains are struggling with massive declines in sales, but lower segment hotels do not come out completely unscathed either. The industry reacts towards the ill tidings with drastic saving measures. Nonetheless, the thrive for expansion is hardly dampened. A summary.

Warstein. Welcome Hotels are looking back at their most successful business year. The turnover increased from 38.2 million euros to 48.4 million euros in 2008. The budgets of the pure hotel businesses were able to be exceeded by far.

Interlaken. At 93.6 million CHF, sales in 2008 recorded by the Victoria-Jungfrau Collection were slightly down on the previous year. The picture was similar in respect to gross operating income at 43.7 million CHF. Overnight stay figures were down 10.2% to 163,321. EBIT and consolidated earnings were also down. All the same, a dividend is to be paid.