Steigenberger Hotels AG, based in Frankfurt am Main, is pleased with its growth during the first half-year of 2005…
Steigenberger Hotels AG, based in Frankfurt am Main, is pleased with its growth during the first half-year of 2005. The company`s 77 hotels have maintained a positive market position despite the poor economic situation.
The hotels of the Steigenberger Hotel Group have ended the first half-year of 2005 well. The two brands Steigenberger Hotels & Resorts, with 49 four and five-star hotels, and InterCityHotels, with its 28 mid-range hotels, were able to increase their turnover by 4.7% compared with the first six months of 2004, after allowance has been made for changes to the portfolio. The number of room nights during the traditionally weaker first half-year rose by 4.6% to around 1,154,000 and occupancy rates improved by 2.2 percentage points from 59.4 to 61.6%. This in turn had a positive effect on yield, which after the first six months of this year stands 2.2% up on the corresponding period last year.
The spokesman for the Steigenberger board, Karl Anton Schattmaier, does not, however, expect any significant change in trend for the German hotel industry during the second half of the year. According to Schattmaier, Occupancy and yield will continue their positive growth but rates will remain under pressure, particularly in markets with a massive surplus supply.
The Steigenberger Hotel Group currently operates 77 hotels under the brand names Steigenberger Hotels & Resorts and InterCityHotels in Germany, Austria, Switzerland, the Netherlands and Egypt.
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