Financial Results

Paris. Accor's hotels revenue declined by 10.1% over the year and 8.3% in the fourth quarter, which showed a slight improvement compared with previous quarters, mainly due to the first signs of stabilization in occupancy rates in December in Europe. Accor published its revenue figures this week; on February 24, the annual results will follow.

Paris. Accor S.A., Paris sees no major improvement in business in the third quarter. Consequently, operating costs in the owned/leased hotels will be raised from 120 to 150 million Euro. Accor also announced to conduct a review of the potential benefits of demerging the businesses of the Services and Hotels division.

Madrid/Vienna. NH Hoteles has had a turnover of 602.9 million Euro in the first six months of this year, 21% less than the previous year; the EBITDA was positive. The first half of the year for Warimpex Finanz- und Beteiligungs AG, Vienna, brought a loss in the amount of 98.6 million Euro because of impairment write-downs, and also in part serious declines in occupancy levels and room rates.

Augsburg. In the last two weeks Accor, the InterContinental Hotels Group, Scandic, Sol Meliá, the Victoria-Jungfrau Collection and TUI Hotels & Resorts published their half year results. All companies performed worse than in the comparable period 2008 but see signs of recovering and the positive effects of their cost reduction plans.

Hamilton/Bermuda. Orient-Express Hotels announced its results for the second quarter ended June 30, 2009: The net loss for the period was 24.3 million USD on revenue of 132 million USD, compared with net earnings of 19.5 million USD on revenue of 177.5 million USD in the second quarter of 2008.

Berlin. For the first half year of 2009, Berlin-based Design Hotels AG reports a decline in revenue of ten percent resulting from a decrease in the booking commmissions.

Parsippany. Wyndham Worldwide Corporation announced results for the three months ended June 30, 2009. Second quarter revenues of 920 million USD declined by 19% from the prior-year period, reported net income for the second quarter of 2009 was 71 million USD, or 0.39 USD diluted EPS, compared with net income of 98 million USD, or 0.55 USD diluted EPS, for the second quarter of 2008.

Munich. Midscale hotels are benefitting from the shift in conference business from top-categories to midscale hotels. Ringhotels, Germany's largest consortium with 3 and 4-star hotels, recorded a plus of 26.7% in the conference business in the first half 2009. Occupancy, on the other hand, is declining.

Bethesda. Marriott International, Inc. revenues totaled approximately 2.6 billion USD in the 2009 second quarter compared to 3.2 billion USD for the second quarter of 2008. Base management and franchise fees declined 19 percent to 219 million USD reflecting worldwide declines in revPAR in all brands The second quarter results 2009 are published.

White Plains. The company still suffers severely from the credit crunch, despite the increased net income. Yesterday, Starwood Hotels & Resorts Worldwide, Inc. also reported its second quarter and half year financial results 2009.