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Press Release Finance

August 24, 2009

Steigenberger paves the way for a successful future with new shareholder

STEIGENBERGER, a leading European hotel Company based in Frankfurt, has completed its process of strategic repositioning that has started in 2008. With the Egyptian tourism group TRAVCO Group International Holding S.A.E., owned by Hamed El Chiaty and his family, a new partner has been found for the hotel business of STEIGENBERGER Hotels AG as of today, comprising the brands “STEIGENBERGER Hotels and Resorts” and “InterCityHotel”. The new partner will continue to pursue and further develop the long-term targets of the Company. In addition to hotels and Nile cruise ships, TRAVCO’s business activities also include complete tourism services. The parties have agreed not to disclose the price of the transaction.

H World International

July 8, 2009

Europe’s Top Five are all German | STR Global reports

Being the least worst is never a high accolade, but in the face of a very tough market the performance of Germany’s main cities is commendable. The May 2009 edition of the European Hotel Review, published by STR Global, the leading provider of market information to the world’s hotel industry, shows German cities taking the top five positions for annual change in revenue per available room (RevPAR) for the year-to-May 2009.

Press Release Development

July 6, 2009

Dagmar Woodward has been appointed as pre-opening General Manager at Jumeirah Frankfurt

Dagmar Woodward will be returning to her home country to lead the pre-opening team of Jumeirah Frankfurt, scheduled for launch in mid 2010. Woodward, who was general manager of the Hotel Royal Monceau in Paris prior to joining the Jumeirah Group, is currently general manager of Madinat Jumeirah’s Mina A’ Salam hotel. Taking Woodward’s place at Mina A’ Salam is Egyptian national Mahmoud Sakr, who is moving from his current position as hotel manager of Burj Al Arab. A ten-year Jumeirah Group veteran, Sakr has spent more than 20 years in the hospitality industry.

Jumeirah

Frankfurt, Germany

July 6, 2009

Rezidor announces the Radisson Blu Badischer Hof Hotel, Baden-Baden/Germany

The Rezidor Hotel Group announces the 50th hotel in operation and under development in Germany: The Radisson Blu Badischer Hof Hotel, Baden-Baden will be re-branded in July 2009 – adding 139 rooms to Rezidor’s rapidly growing portfolio.

Radisson Hotel Group

Baden-Baden, Germany

Report Finance

July 1, 2009

Germany forecasts make tough reading | STR GLobal

Forecasts from the May 2009 Hotel Market Forecast report from STR Global, the leading provider of market information to the world’s hotel industry, indicate that average daily rate declines during the next 24 months across Germany’s major cities will be the main cause of the industry’s sluggish performance. Just as positive recent data from Germany’s Ifo business climate index on the prospects for the German economy is tempered with on-going fears of further job losses, limited improvements in hotel occupancy during the next two years are offset by the rate declines. See the chart below. Even in those cities such as Hamburg and Munich where there are expectations of modest increases in occupancy of up to 2 percent and 3 percent in 2010, respectively, the forecasted decreases in room rate are 6 to7 percent.

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Hospitality Net

June 30, 2009

Peter Verhoeven has been appointed as Managing Director at Accor Hospitality Deutschland

Peter Verhoeven is joining Accor Germany form Accor Netherlands where he served more than 2 years as Managing Director. Mr. Verhoeven's past experience includes employment with Golden Tulip International in Africa as well as Gran Dorado in The Netherlands. After a 10-year stint with Disneyland Resort Paris as Director of Business Solutions, Verhoeven moved to AVIS as Group Director Sales EMEA and Asia. Mr. Verhoeven is an alum of the The Hagoe Hotelschool and holds an MBA degree from INSEAD. Verhoeven is replacing Marc Hildebrand who is leaving the group.

Accor Hospitality Deutschland

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Hospitality Financial and Technology Professionals (HFTP)

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Hospitality Net

June 16, 2009

Germany’s top four ADR performers | STR

Average room rate performance for Germany’s cities so far this year varies dramatically according to data from STR Global, the leading provider of market information to the world’s hotel industry. Of the 17 city markets in the Federal Republic covered by STR Global, only four show positive, albeit modest, year-on-year ADR growth for the first four months this year: Rostock, Leipzig, Cologne and Dortmund. (See chart below.) Rostock leads the way with a 3.3-percent increase.

June 9, 2009

Germany’s game of three quarters | STR Global Reports

Whilst the circumstances are different, data from STR Global, the leading provider of market information to the world’s hotel industry, shows that Germany’s hoteliers might be holding their nerve more than in the previous recession. The last German recession, defined as two or more consecutive quarters of declining Gross Domestic Product (GDP), occurred between the last quarter of 2002 and continued until the second quarter of 2003. Revenue per available room (RevPAR), a measure of hotel operating performance, was already falling well before this as external factors such as 9/11, the Iraq War and SARS took effect.

Report Finance

June 3, 2009

Frankfurt Benefits From Trade Fair | STR Global

Positive hotel performance news comes from Frankfurt, the city of trade fairs: Recent data from STR Global, the leading provider of market information for the world’s hotel industry, shows the direct impact of trade fairs on the region during recent weeks. Both the Musikmesse and ProLight + Sound fairs took place in Frankfurt on 1-4 April this year, rather than in March as in previous years. This explains the positive change in year-on-year revenue per available room (RevPAR) for the region as seen on the left-hand side of the chart below. Similarly for Wiesbaden, the peak around 18 April coincides with the start of the Internistenkongress, which was also held in March last year. It must be noted that performance in March suffered as these fairs moved forward in the calendar.

Frankfurt, Germany

May 25, 2009

STR Market Report: Hamburg

According to the latest city review by Christie + Co, using data provided by STR Global, Hamburg hotels recorded a 3.1% decrease in RevPAR during the first quarter of 2009 compared to the same period in 2008. Preliminary figures for April suggest that this downward trend is continuing with a further 18.2% drop in RevPAR compared to the previous year. Hamburg is the second largest city in Germany and ranks amongst the country’s most popular city break destinations, attracting a balanced mix of business and leisure travellers. Home to the second largest harbour in Europe, Hamburg is often referred to as ‘The Gateway to the World’ and is also considered the German capital of musicals. In addition, the borough of St. Pauli, including the famous Reeperbahn area, as well as the Hamburg Harbour Birthday Festival and many international trade fairs and exhibitions, attract millions of business and leisure guests annually.

Hamburg, Germany

Press Release

May 19, 2009

Art Meets Hospitality: Design Hotels™ Exhibits At The DMY International Design Festival Berlin 2009

Design Hotels™ will show its Made by Originals exhibition at the DMY International Design Festival Berlin 2009 following a worldwide tour through 17 cities. The five-day festival invites international designers, professionals and design-lovers to a varied program of exhibitions, performances, lectures, workshops and open studios. It will take place from June 3 through 7, 2009.

Design Hotels

Berlin, Germany

Feuring – Visionary Hotel Development

April 30, 2009

Jumeirah Group to Launch First German Hotel

Dubai-based luxury hotel company Jumeirah is to launch a major new five-star city centre hotel serving business and leisure travellers to Frankfurt, following an agreement to lease and operate the hotel element of the city’s major new PalaisQuartier leisure and retail development, a project of MAB Development.

Jumeirah

Frankfurt, Germany

Press Release Finance

April 30, 2009

Interview with Berno-H. Feuring, founder of Feuring Hotel Consulting GmbH

In 1959, Berno H. Feuring was 21 years old and the youngest hotel director in Germany. He founded his own company in the same year and for 50 years now has - on behalf of hotel chains and investors - developed hotels mainly in the luxury segment and from the first idea to their opening. Amongst them are impressive names like Le Royal Méridien Hamburg, the Steigenberger Hotel de Saxe Dresden, Le Royal Mansour Casablanca or the Bristol in Warsaw, which was re-structured by Feuring. To this day, Feuring as a company has been involved in more than 400 hotel projects all over the world. In the following interview, the senior managing director talks about the special challenges in the hotel sector, his financial strategy as well as passing on the company to the next generation.

Report Finance

April 16, 2009

German Hotel Performance Reported By STR Global And Fairmas

STR Global and Fairmas, the two leading providers of market information to the German hotel industry, report on the performance figures for the German hotel market. A year-to-year comparison of data for February 2009 shows all indices down for the country as a whole--average daily rate fell 0.7 percent, occupancy change was -7.4 percent and RevPar change was -8.1 percent. The relatively modest fall in rate was bolstered by a significant rise in year-on-year ADR for Cologne of 16.8 percent and insignificant decreases for Hamburg, -0.6 percent, and Berlin, -1.6 percent.

April 9, 2009

Rezidor announces the Radisson Blu Axelmannstein Resort, Bad Reichenhall / Germany

The Rezidor Hotel Group (STO:REZT), one of the fastest growing hotel companies worldwide, announces the Radisson Blu Axelmannstein Resort in Bad Reichenhall, Germany. The existing property with 152 rooms will be rebranded and join the Radisson family on 30th June 2009. “With this signing our steadily growing resort portfolio comes close to 40 properties with more than 9,500 rooms across Europe and the Middle East”, comments Kurt Ritter, President & CEO of Rezidor.

Radisson Hotel Group

Bad Reichenau, Germany

March 24, 2009

Grand Opening of andel’s Hotel Berlin

The opening of the andel’s Hotel marks the successful completion of the second hotel project in Germany for the joint venture of Austrian real estate developers UBM and Warimpex. “With the andel’s Hotel Berlin, we want to follow up on the success of the andel’s design hotels in Prague and Cracow. Not least due to the dynamic development of Berlin as a conference capital am I convinced that we will more than succeed,” says Warimpex CEO Franz Jurkowitsch of his largest hotel project so far.

Berlin, Germany

March 17, 2009

ITB Berlin 2009 Closing Report | stronger than ever

"More market players visited the leading platform of the international travel industry than ever before. In times of rapid structural changes and highly competitive markets they focused on gaining a comprehensive market overview and on new business approaches. Thus, unlike many other industries, the travel sector is actively responding to the challenges. Trade visitor attendance remained high, proof of ITB Berlin's resilience even in economically difficult times. We are delighted that there was an increase in visitors from abroad. Once again, ITB Berlin re-established itself as the world's leading travel trade show", said Dr. Christian Göke, Chief Operating Officer of Messe Berlin.

ITB Berlin

Berlin, Germany

March 9, 2009

Wolfgang M. Neumann has been named Chief Executive Officer (CEO) at Arabella Hospitality Group

Wolfgang M. Neumann is to become new Chief Executive Officer at Arabella Hospitality GmbH & Ko. KG, Munich and will assume the post as of 15h April 2009. Neumann left Hilton at the end of December 2008 - after an amazing career spanning 24 years with the luxury hotel group. With Neumann, renowned for his outstanding managerial skill, the parent company, Schoerghuber Stiftung & Co. Holding KG, sets an important sign for the future. Neumann stepped down as President of Hilton International Europe & Africa (see link) in December of last year. His 24 years of experience in the chain hotel industry should be of huge benefit to the Munich based hotel group, in particular with respect to the joint venture with Starwood Hotels. Stefan Schoerghuber had intended restructuring the joint venture agreement, though no final contracts were concluded. Whether the new CEO will follow the path of the Stefan Schoerghuber remains to be seen. Schoerghuber's announcement of his intention to found his own "Collection" last year had caused friction in relations with Starwood.

Arabella Hospitality Group

Munich, Germany