Design Hotels AG Publishes Annual Results 2011
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.
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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