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Design Hotels AG Publishes Annual Results 2011
Berlin, March 7, 2012 - Design Hotels AG (m:access, Munich: LBA; ISIN: DE0005141006) publishes the results for the financial year 2011. Following the change in listing from the regulated market to the m:access segment of the Munich stock exchange at the beginning of 2011, the Company has changed its accounting from IFRS to HGB. For better comparison, the figures for the previous year were adjusted accordingly.
The 2011 results are in line with the forecast given at the beginning of year - a revenue growth in the lower two digit range and an operational result behind last year's result.
for the financial year 2011 increased by around 11% to Euro 10.363m (2010: 9.356). Despite continuing financial uncertainty, the tourism sector continued its recovery from the strong decline in 2009 and reached a new record level in international arrivals. This reflects in slightly higher occupancy and room rates within the hotel sector. Design Hotels AG was again able to grow above market average and thus further strengthen its market position.
for the full year came in at Euro 4.658m (4.424), which means a 5% increase compared to last year. Commissions accounted for 45% of the total revenues compared to 47% in 2010. Bookings through Design Hotels channels grew by 20% and showed a significantly higher value than the growth rate for booking commissions.
Revenues from for membership in Design Hotels grew by 6% to Euro 2.889m (2.717), contributing 28% to total revenues compared to 29% in 2010. On December 31, 2011, Design Hotels had 221 member hotels (2010: 208) with 16,977 (15,956) rooms, in 137 destinations and 43 countries.
grew strongest with 27%. Revenues in the amount of Euro 2.816m (2.215) were generated which accounted for 27% (24%) of total revenues.
The came in at 69% (71%) and was thus slightly below last year' s level .
The average number of employees increased from 70 to 75 employees. This increase was necessary due to the higher volume of business, the expansion of the service portfolio, and the intensification of consulting activites to member hotels to reach higher revenues from the sale of marketing products and services. The staff expenses grew faster than revenues, however, the average revenue per employee could be increased from Euro 134,000 to Euro 138,000.
Intensified consulting to member hotels and the announced investment in the necessary infrastructure led to a 34% increase in the cost of sales. increased by 13%.
for 2011 decreased by around 25% to around Euro 0.442m (0.592). The margin was 4% (6%).
reached Euro 0.146m in 2011, a 56% decrease compared to 2010 (Euro 0.331).
Preliminary for 2011 came in at Euro 0.653m (0.105). The strong increase is mainly due to the non-cash effect of an increase in deferred taxes by Euro 0.435m.
On December 31, 2011, the Company had to the amount of Euro 3.540m, as compared to Euro 3.309m on December 31, 2010. increased from Euro 4.901m to Euro 5.552m. The equity ratio amounts to 67% (70%).
In December 2011, Starwood Hotels & Resorts Worldwide Inc. announced their intention to acquire the shares of the Company's major shareholder, Arabella Hospitality SE, Munich (formerly: Arabella Hospitality Group GmbH & Co. KG).
On February 22, 2012, Arabella Hospitality SE informed Design Hotels AG that they are no longer shareholders in Design Hotels AG.
On February 24, 2012, Starwood Hotels & Resorts Worldwide (Starwood), Inc. Stamford, USA, informed the company that Starwood acquired a majority stake in Design Hotels AG.
CEO Claus Sendlinger comments: "In 2011, our clear focus was on the enhancement and expansion of our service portfolio and the strenthening of the relationships with our clients. In order to achieve this we had to invest in human resources and technology enhancements. This had a short-term negative impact on earnings, will however, over the long term sercure our business model by adding value to the membership in Design Hotels."
"As expected, the past two years showed an increasing pressure on the transaction margins. As in other sectors of the travel industry, the dynamic growth of the Internet as a booking platform continues to have a major impact."
"Despite these circumstances and negative market trends we were again able to grow even faster pace than the rest of the industry. This is also our goal for the coming years. We want to increase the number of member hotels annually by on average 10%. This can only be achieved by expanding the service portfolio and by strengthening the Design Hotels(TM) brand vis-à-vis member hotels and end customers. This will give us the strength to grow in all three business units. For 2012, we expect another double digit revenue growth and a clear improvement of our operational results."
- Publication audited results 2011
- Annual Shareholder Meeting Design Hotels AG in Berlin
- Publication Half Year Results 2012
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
10245 Berlin
Tel. +49 (0)30 88 494 00 14
Fax +49 (0)30 25 933 01 7
ir@designhotels.com
Schwarz Financial Communication
Frank Schwarz
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
schwarz@schwarzfinancial.com
Design Hotels handles the marketing of a hand picked collection of over 220 hotels globally. Design hotels offers its customers an international platform, as well as a broad range of services, such as concept development, positioning, marketing,sales and measures to optimise revenues. Additionally, as part of a global creative network, Design Hotels continuously strives for innovation and exchanges between its members, guests and visionaries from other sectors. No two hotels in the Design Hotels portfolio are the same, each one has its own character, history as well as a unique way in which it blends with its environment. What connects all houses is that they are one of a kind. They are influenced by the character of their designers: hoteliers, architects, designers and creatives, whose passion turns good ideas into unique experiences.
www.designhotels.com , ISIN : DE0005141006, m:access Munich Stock Exchange (Freiverkehr)
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