Financial Results

Hamilton, Bermuda. Orient-Express Hotels reported a net loss of 26.6 million USD on revenue of 574.4 million USD for the year ended December 31, 2008, compared with net earnings of 33.6 million USD on revenue of 599.6 million USD in 2007. The company decided to cancel projects and minimize capital expenditure.

Parsippany. During the fourth quarter of 2008, Wyndham Worldwide Corporation had to face several special items. Full year 2008 revenues were approximately USD 4.3 billion, essentially flat compared to 2007, despite the slow-down of the vacation ownership business implemented in the fourth quarter.

London. InterContinental Hotels Group PLC announced
full year results to 31 December 2008. Revenue from continuing operations increased by 4.7% to $1,854m and continuing operating profit before exceptional items increased by 12.9% to $535m during the 12 months ended 31 December 2008.
Operating profit decreased by 24,5% to $ 403m. Profit before tax analyzed as continuing operations decreased 32 percent to $302m.

Wiesbaden. Mark Thompson, Managing Director of the B&B Hotels GmbH Deutschland, is satisfied with the past fiscal year of 2008. Despite the difficult months for the industry, he was able to surpass the aims for 2008. In the last year, the budget hotel chain generated a turnover of 16.1 million euros in Germany; this is a significant increase of 28 percent.

Bethesda. For the full year 2008, Marriott International adjusted income from continuing operations totaled 555 million USD, a decline of 26 percent. Total fees and timeshare declined. For 2009, the group's outlook also is not very optimistic.

Stockholm. Scandic reports strong figures for 2008 though business weakened in the second half of the year. Revenue and operating profit increased, giving a profit margin of 14.7%. The Scandinavian hotel group captured market share in most markets.

Brussels. As market conditions worsen Rezidor increases cost reductions and maintains asset-light growth strategy. The negative impact of the economic slow down on the European hotel market escalated during the last quarter of 2008 with double digit drops in industry RevPar as a result. The group's year-end-report 2008 was published this week.

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.