The Steigenberger hotel group announced an increase by 8.7% in its turnover and by 52.7% in its EBITDA in 2013, and a favorable trend for the beginning of 2014.

Steigenberger announced an 8.7% increase in its sales in 2013, bringing it past the symbolic benchmark of 500 million euros in its turnover for the first time.

Sales were boosted by a 1-point increase in occupancy rate to 63.7%, in line with the positive trend of the German market in 2013 as well as, more recently, the dynamism of demand on weekends. Inversely, the group does not appear to have been penalized by the difficulties that subsist on the Egyptian market.

The group invested 30 million euros in renovations in 2013 for many Steigenberger and InterCityHotels units including Steigenberger Inselhotel in Constance, Steigenberger Hotel & Spa in Krems, Steigenberger Grandhotel Belvédère in Davos, and InterCityHotels unites in Augsburg, Nuremberg, Freiburg, Kassel and Berlin Ostbahnhof. At the same time six new properties were opened or acquired: 4 Steigenberger units (in Brussels, Braunschweig, Bremen and Madinat Makadi) and 2 Intercity units (in Berlin and Leipzig).

One noteworthy development is that these investments were made exclusively with own capital: the group's CFO, Matthias Heck, remarked: "The high level of group liquidity we enjoy means that both growth and investment have been entirely financed from our own funds. The company remains debt-free."

In addition to results from 2013, the group's CEO Puneet Chhtatwal also announced current trends for 2014 that are clearly positive: "In the first quarter, our occupancy rate grew by 4.6 points and sales grew by 11.6%. We are well-positioned to achieve our national and international growth objectives."