Financial Results

Madrid. NH Hoteles has recorded a net profit of Euro 14.34 million in the first half of this year, which points towards an evident improvement in business performance when compared with the flat results recorded in the first quarter of the year. This is the result of a 3.7% increase in hotel revenues and a major cost saving of Euro16.4 million.

Wiesbaden. During these days the big international hotel companies publish their results of the first six months of the year. Starwood, Accor, Hilton, Fairmont and Steigenberger demonstrate shy optimism.

Duesseldorf. As reported last week, Dorint AG announced strong losses for the past fiscal year for the third time in a row. Board member Dr. Michael Theim explains the background of this development: "We have completely overcome the past with the financial burdens involved with preopenings and start-up phases." Nonetheless, there are still problems - and again, new capital needs to be approved precautionarily.

Moenchengladbach. With -27.7 million euros and a corporate loss of 31.8 million euros, the business figures of Dorint AG turned out to be worse than many had feared. The company is still far away from reaching its goal of showing profits again in 2006. However, in Moenchengladbach, they are still trying to spread optimism.

Berlin. The turnover of the German hotel group design hotels AG was higher in the last fiscal, but the bottom line shows losses.

Hongkong. A fresh wind is blowing over Asia again, despite all crises and catastrophes: Mandarin Oriental's annual results show extremely positiv effects in Asia's metropolitan cities.

Munich. After a slight drop in 2003, the business figures of German ArabellaSheraton Hotels developed positively last year.