Design Hotels AG Publishes Annual Results 2011
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Design Hotels AG /
Design Hotels AG Publishes Annual Results 2011
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* Revenues increase by 11% to Euro 10.363m
* EBITDA falls from Euro 0.592m to Euro 0.442m
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.
Key Financials:
Revenues 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.
Booking commissions 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 license fees 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.
Marketing and Consulting Services 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 Gross Margin 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. Total
operating expenses increased by 13%.
EBITDA for 2011 decreased by around 25% to around Euro 0.442m (0.592). The
EBITDA margin was 4% (6%).
EBIT reached Euro 0.146m in 2011, a 56% decrease compared to 2010 (Euro 0.331).
Preliminary Net Profit 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 cash and cash equivalents to the amount of
Euro 3.540m, as compared to Euro 3.309m on December 31, 2010. Shareholders'
equity increased from Euro 4.901m to Euro 5.552m. The equity ratio amounts to
67% (70%).
Starwood Acquires Majority Interest in Design Hotels AG
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.
Further comments:
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."
Financial Calendar:
March 7, 2012 - Publication audited results 2011
April 12, 2012 - Annual Shareholder Meeting Design Hotels AG in Berlin
August 1, 2012 - Publication Half Year Results 2012
Contact:
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(at)designhotels.com
Schwarz Financial Communication
Frank Schwarz
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
schwarz(at)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)
Press Release incl. tables as PDF download:
http://hugin.info/136390/R/1591933/500447.pdf
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originality of the information contained therein.
Source: Design Hotels AG via Thomson Reuters ONE
[HUG#1591933]
Unternehmensinformation / Kurzprofil:
Datum: 07.03.2012 - 10:49 Uhr
Sprache: Deutsch
News-ID 122542
Anzahl Zeichen: 8515
contact information:
Town:
Berlin
Kategorie:
Business News
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