Topic Finance

News & Stories

Ursula Kriegl, Jones Lang LaSalle Hotels, on contracts through the crisis
The universal aversion to risk
24.7.2009

Munich. The crisis has brought an old subject back on the agenda for banks, investors and operators alike: leases. Whilst some require this form of contract as security, others don't even want to consider it. Compromise is what's needed. The best lease is after all not the highest lease. Ursula Kriegl, Executive President Germany with Jones Lang LaSalle in Munich gives her opinion on the new contract focus in the crisis and gives an example profit calculation for a 150 room hotel under fixed-lease, turnover lease and management contract.

Adlon Holding suspends lease payments: Interview with investors' lawyer
Contract promise and reality
10.7.2009

 

Berlin. The fund initiator Anno August Jagdfeld's Adlon Holding GmbH is currently in financial straits. The company confirmed in the last week that is would suspend million EUR lease payments. At the end of last week, an agreement was allegedly reached. fondstelegramm was the first to confront the problem openly and referred to a lawyer with precise knowledge of the situation. He represents the protective association of Adlon investors founded recently. In an interview with hospitalityInside.com, the lawyer gives details of the situation both past and present and throws new light on Jagdfeld's financial dealings.

State supports Heiligendamm with a surety in the millions
3.7.2009

Heiligendamm. With a large surety from the state in the millions, the financially battered Grand Hotel Heiligendamm in Germany is to be able to effect an about-turn. However, industry experts expect permanent problems due to lacking infrastructure.

USA: Extended Stay in Chapter 11
26.6.2009

New York. In the USA, the looming insolvency of the Extended Stay Hotels is causing a stir. The company operates more than 680 hotels in the US and Canada, which mainly focus on long-term guests. The Lightstone Group bought Extended Stay from Blackstone in June 2007.

ESSEC Forum on Real Estate in Paris: Recovery still takes time
Hotel values - squeezed out
12.6.2009

Paris. Hotel values are down 20% to 60%, ‘cap rates’ are soaring, revenues are falling and there is a liquidity squeeze… At the first ESSEC "Annual Forum on Commercial and Hospitality Real Estate", held on 5 June in Paris experts said the the return of banks to hotel financing may take long. The hotel sector will probably have to wait until the office building and other commercial property segments have recovered again. Right now, banks may force sales, even if they have to book losses on the loans. An up to date excursion into the world of hotel financing.

Rezidor revenues slump - Analysts take group's rating down a notch
Kurt Ritter fighting the beast
1.5.2009

 

Augsburg. Kurt Ritter rides the stock market bear! He is fighting the beast. The illustration from the company's own magazine "Rezidor Business Review" shows the PR-savvy Rezidor CEO from his funny and ironic side. In the background, however, the bear shows its teeth. "We have losses from most locations," Kurt Ritter said in Berlin in March. "In Germany and Great Britain, the whole market has collapsed." Now, the results for the first quarter are out and one ratings agency has for the first time rated Rezidor as "underperform". Reason for an interview with Chief Financial Officer of the Rezidor Hotel Group, Knut Kleiven.

Few companies affected by the credit crunch
24.4.2009

Nuremberg. For the majority of companies in Germany, lending by banks has not yet been cut. Just six per cent of companies so far are claiming that financial institutions have cut lending, terminated ongoing finance agreements or limited credit in the wake of the economic and financial crisis. This means the feared credit crunch is so far barely noticeable on the market.

After the insolvency announcement: Golden Tulip to keep stony silence
A lot of room for speculations
10.4.2009

Amersfoort. Ailing Golden Tulip Hospitality Group is still negotiating with potential split up. The background behind the difficulties is slowly getting clearer. In the meantime, Golden Tulip keeps stony silence.

Golden Tulip under receivership
3.4.2009

Lausanne. Golden Tulip Hospitality Group voluntarily applied for receivership on March 31. However, by its own account, the group is negotiating with two potential partners about continued existence.

New Recovery Fund for non-performing assets
26.3.2009

London. A "Global Hospitality Recovery Fund' is raised up to 500 million Euro in order to acquire luxury hotels, and is now actively seeking investment from both institutions and individuals. Sought-after are non-performing assets with negative cash flow, delinquent assets being disposed of by institutional investors, distressed assets in negative equity and assets that are in breach of covenants by borrowers.

Stock Exchange

Share price performance of the week 15/07/16 - 21/07/16

HI+Share price performance of the week 15/07/16 - 21/07/16

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Source: Factiva / powered by HVS EMEA Enews


 



Financial Results

HI+Recovery in small steps

Cologne. "Consolidate, consolidate, consolidate!" This is the main goal of Managing Director Elke Schade for Neue Dorint GmbH based in Cologne. This year and next, losses have to be cut by half once more, after which the company expects "a black zero" by 2010. Dorint Hotels & Resorts, which separated from the Accor hotel group in Germany 18 months ago, are in the middle of rebuilding the brand, a separate marketing and a separate head office. The management team explained the current economic situation, the new developments and the gentle expansion plans this Wednesday in Cologne at the annual press conference.

HI+Maritim increases profits

Frankfurt/M. Last year, the German Maritim hotel company increased profits and its equity- to-asset ratio. At a press conference in Frankfurt yesterday, company management announced concrete figures.

HI+Average room rates still on the rise

Frankfurt/M. The three Steigenberger Hotels in Switzerland enjoyed a positive fiscal 2007. The four Steigenberger Hotels in Vienna, Krems, Linz and Kaprun also look back at an extraordinarily successful fiscal, as it was reported at the press conference on financial statements of the Steigenberger Hotel Group on Tuesday.

HI+Lindner: 100 million Euro hurdle in Germany cleared

Duesseldorf. Lindner Hotels & Resorts can look back on a successful 2007. The Group`s turnover increased from 120 million Euros in 2006 to 130.8 million Euros in 2007 - growth of around nine percent.

HI+Warimpex surpasses goals 2007

Vienna. In the financial year 2007, the Austrian Warimpex Finanz- und Beteiligungs AG succeeded in consistently realising its growth targets. High sales proceeds led to an above-average rise in the operating result. "The clear targets we defined at the time of our stock market flotation in January 2007 have all been achieved or even surpassed," CEO Franz Jurkowitsch said. The expansion is in full swing.

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