Balance Sheets since 2023

Paris. Gilles Pélisson, the new Chief Executive Officer of
the Accor Group, left a poor impression following his first presentation,
according to media reports last week. Shares dropped by 6.5 percent after
the leading European hotel operator published the results for 2005.  

Berlin. At the ITB in Berlin, the management team of Marriott International was highly optimistic. In 2005, the company recorded a record in earnings per share of 2.89 US dollars. Due to the hitherto 2006 accounting statistics, Marriott International expects an increase in operating results by 30 to 34 percent.

Madrid. In 2005 NH Hoteles earned Euro 62.2 million which is 12.8 per cent more than in the previous year as a result of the good performance of the hotel business. Specifically operating profits for the hotel business of the group totaled Euro 127.2 million, 8.5 per cent higher than the figure recorded for 2004. Revenues at Sotogrande were lower than in 2004.

London. The InterContinental Hotels Group plc published the results of 2005. The asset sale continued consequently. Continuing operating profit was up 42 percent from 134 to 190 million pounds Sterling with operating profit margin up 4 per cent.

Berlin. In 2005, consolidated revenues of the hotel group design hotels amounted to Euro 5,38 million. During the year 2006 the company intends further growth with high quality

London. Yesterday the sale of Hilton International to Hilton Hotels Corporation for 3.3 billion pounds was completed. At the same day Hilton Group plc published its results for the year 2005. Revenue and profit increased.

Silver Spring. Choice Hotels International, Inc. reports positive figures in its annual report. Shareholders will receive higher EPS. Franchising revenues went up again.

Brussels. Rezidor SAS Hospitality announced its results for 2005. The company generated group wide revenue of MEUR 587.0 as compared to MEUR 498.7 in 2004; an increase of 17.7%. The key driver of this financial development is an 11% growth in the company's Revenue Per Available Room. In 2006, the company will continue with its vigorous development strategy with an increased focus on developing Russia, CIS and East European markets.

Washington DC. Full year management and franchise fee revenue of Marriott International exceeded US-Dollar 1 billion in 2005. Earnings per share totaled US-Dollar 2,89, up 17 percent from 2004.

White Plains. The operating-results of the year 2005 of Starwood Hotels & Resorts were positive. The EPS from continuing operations grew. Incoming from continuing operations was 423 Million US-Dollar, the Company has total net debt of 2,941 billion US-Dollar.