Steigenberger increases revenue and expands

Frankfurt. Steigenberger Hotel Group is expanding to China. To
achieve this goal, the company started a joint venture with a Chinese partner and will
open an initial hotel in Beijing already this summer.

Frankfurt. Puneet Chhatwal is now officially in the office. Nonetheless, the new Steigenberger CEO verbalised his thoughts during our meeting shortly before Christmas that allowed the well-entrenched Steigenberger GMs to sit up and take notice. In the first meetings in the weeks before, the Indian had apparently surprised some staff members not only with his fluent German. His present multinational work and his own multicultural experience have clearly stamped the now 48 year-old: He wants a hotel group that thinks exactly as he does, "out of the box" and knows the international competition as well as the German. At the moment, Puneet Chhatwal is questioning everyone and everything, even the up to now accepted strategic cornerstones like the Grandhotels. He does not assess the Steigenberger hotels through their own company glasses, but rather defines their value through their status within the entire market. A great deal of work has come upon Chhatwal.