Over the 2012 year, the Steigenberger Hotel Group has experienced increases across the board, brought on by its product expansion. This has left the group on stable financial footing from which to launch further expansion in 2013.
Financial results for Steigenberger Hotels were on an upward trajectory for the 2012 year. The group made significant investments in expanding and updating its product offer, increasing earnings with the added customer satisfaction.Over the 2012 year, Steigenberger added a total of 750 new guestrooms to its portfolio, including three luxury cruise ships in Egypt which enriched the offer. The group also continued its refurbishment of Steigenberger and InterCityHotel hotels.With the upward momentum of an increased occupancy rate (0.8 percentage points compared to last year), average room rates increasing by 2.3 % to EUR 91.15, and RevPAR increasing 3.6 % to EUR 57.16, the group saw a revenue increase of 0.7 % to EUR 462.3 million.Increased earnings allowed Steigenberger to finance all of their investments for the year from cash flow, a total of EUR 27.8 million of investments. At the end of 2012, the group is in an extremely sound financial position, with no debt.In the coming year, the group’s strategy is to continue expansion in Europe, the Middle East, and in China with a portfolio set to expand by 1,600 guestrooms.
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