Financial Results

Hong Kong. The audited results for the year ended 31 December 2006, The Hongkong and Shanghai Hotels, Limited show a strong performance of its businesses during the year which was reflected in a significantly improved profit before non-operating items of 904 million HKD, an increase of 31% as compared to 2005. The increase was driven primarily by the strong performance of the Peninsula Hotels. They also performed well during the first quarter of 2007.

Frankfurt/M. The development of Maritim Hotelgesellschaft remains positive. In 2006, the total turnover excluding the franchise businesses amounted to 378 million Euros, which is 41 million Euros above the previous year's level. At the same time, the gross operating product climbed by roughly 20 million to 133.9 million Euros. In 2007, there will be further increases. The company wants to expand primarily abroad. In Germany, it plans to withdraw from health resorts.

Frankfurt/M. Thanks to good operating profits, the German Steigenberger Hotel Group with its 82 hotels can continue to look positively into the future. They contribute not only to the finance of the 150 million heavy investment programme, but also ease the company's expensive severance from unprofitable real estate and lease contracts. The clear-up process is, however, far from finished.

Interlaken. Victoria-Jungfrau AG, quoted on the Swiss stock exchange, reports profits again after the previous year's loss. Consequently, the company calls for a dividend of five francs at the annual general meeting after three years of pay freeze. "We're looking up again," says the 2006 annual report.

Bad Ragaz. In the business year 2006, the result of the Swiss Grand Hotels Bad Ragaz once again surpassed the maximum values of last year. The consolidated turnover increased by +4.6% to 94.9 million CHF; the operating result and the profit rose accordingly.

Nuremberg. hotel.de, the online reservation system working for various hotels throughout the world, announced record turnover growth for 2006 with figures shooting from 12.5 million Euros in 2005 to19.3 million Euros in 2006, an increase of some 55.3%.

Adliswil/Zurich. For the fourth consecutive year, Moevenpick Hotels & Resorts has reported consistent earnings growth and once again achieved a good operating result in fiscal 2006.

Bad Salzuflen. Maritim Hotels have improved their results yet again during the year 2006. With 378 million Euros the total turnover was some 41 million Euros above the previous year's figure. At the same time the GOP improved by 20 million Euros. Occupancy and RevPar also increased.

Paris. The French Accor Group announced a 51% increase in its net profit for the financial year 2006. The Operating Profit before tax and non recurring items was up 28% to 727 million Euro. Earnings per share were up 44% to 2.23 Euro, the ordinary dividend was at 1.45 Euro. After these successful results the group will continue to focus on its two core businesses, services and hotels. The non-standardized 2 star brand, announced months ago will be named "All Seasons".

Hamilton/Madrid. Orient-Express Hotels announced its results for the fourth quarter and full year ended December 31, 2006. RevPar and EBIDTA margins increased while the company confirmed less net earnings than in 2005. The hotel business of NH Hoteles has improved significantly in 2006. Net profit is up by 30.6% over the previous year to 45.9 million Euro.