DGAP-News 591 0 Kommentare Design Hotels AG: Impairment write-down affects Results in 2012

DGAP-News: Design Hotels AG / Key word(s): Change in Forecast
Design Hotels AG: Impairment write-down affects Results in 2012

21.01.2013 / 07:28

Press Release

            January 21, 2013

Design Hotels AG: Impairment write-down affects Results in 2012

Berlin - The management and Supervisory Board of Design Hotels AG
(m:access, München: LBA; ISIN: DE0005141006) have agreed on an impairment
write-down in 2012 in the amount of approx. 400,000 Euros. The company
anticipates that funds due on services rendered for a hotel development
project will not be recoverable. The written-off receivables will be fully
recognized in the Profit & Loss statement in 2012. Design Hotels AG will
therefore not achieve its budgeted EBITDA results; instead EBITDA will
amount to 100,000 Euros below the previous year. Other Key Performance
Indicators will be affected accordingly.

CEO Claus Sendlinger commented: ´Without the impairment write-down we would
have exceeded our budgeted operational results for 2012. The year has been
very successful and we managed to increase revenues in all our business
units. Therefore, it is very regrettable that we need to adjust our
results.´

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@designhotels.com

About Design Hotels
Design Hotels represents and markets a curated selection of more than 240
independent hotels in over 40 countries across the globe. More than a
collection of hotels, the company is a collection of stories. Each property
reflects the ideas of a visionary hotelier, an ´Original, ´ someone with a
passion for genuine hospitality, cultural authenticity, thought-provoking
design and architecture. Each ´Original´ stands for the individual,
aesthetic and service-driven experience that his or her hotel
provides.  Founded by Claus Sendlinger in 1993, Design Hotels(TM) offers
its members insightful travel industry knowledge, from market trend
consultancy to international sales representation. The company has its
headquarters in Berlin and branches in London, Barcelona, New York,
Singapore and Perth.

www.designhotels.com, ISIN : DE0005141006, m:access Munich Stock Exchange
(Regulated Unofficial Market)

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