On the road to success

On the road to success
Sales and operating results for 2011 up, VAT reduction allows numerous investments, expansion abroad continues.

Bad Salzuflen, Germany, March 2012 – Although the economy has not yet reached its pre-crisis levels, Maritim Hotels once again showed improved results last year. At 446.1 million euros, total turnover for 2011 0.8 million euros was about 0.2 per cent up on last year’s result. Clear growth was recorded, especially in the business and individual travel segment. Since the beginning of 2010, the reduction in VAT on accommodation to seven per cent has also contributed to good business results; this reduction remains of vital importance to the German hotel sector, especially when it comes to maintaining its competitiveness with foreign companies. Maritim currently has 51 hotels, of which 14 are located abroad; the average occupancy rate is 58.0 per cent. The average room rate increased from 86.80 euros the previous year to 88.09 euros.

Looking back on 2011
The German economy continued to recover, allowing Maritim to continue its growth in the important business and individual travel segment. This positive business trend was enhanced by the reduction in VAT, allowing us to make some major investments in our hotels, not only securing existing jobs but also creating new jobs and making an important economic contribution to various regions. “The good annual results prove that our increased sales and marketing strategy in recent years has been the perfect recipe. In addition, the VAT reduction has allowed us to invest for the benefit of our guests,” said a pleased Gerd Prochaska, Executive Director of Maritim Hotels.

Numerous investments
Investment in Maritim Hotels was just short of 10 million euros in 2011 – with investments being made in Munich, Cologne, Bremen, Frankfurt and Travemuende, for example. At the Maritim Strandhotel Travemünde, an entirely new spa and beauty care centre was created in an area measuring 1,100 square metres, which can now be termed one of the most attractive spas on the Baltic coast. In the other hotels, bathrooms, rooms and parts of the conference areas have been repainted, thus enhancing their elegance and comfort.

Expansion in China
The first Maritim hotel on Chinese soil having opened in 2010, it was time for a second hotel to be opened in China in June 2011: apart from the Maritim Hotel in Wuhu (located a four-hour drive from Shanghai), there is now another 5-star hotel in Shenyang. The Maritim Hotel Shenyang is located in the megacity of the same name in the booming Yuhong economic zone and is regarded as the cultural and economic centre of north-eastern China. This spacious 5-star hotel has 631 elegantly furnished rooms and suites, each one equipped with LCD television, high-speed Internet access and a minibar. Some rooms have balconies. The numerous seminar and congress facilities may be of interest to business travellers: with a size of 1,450 square metres, the largest hall is suitable for events with up to 1,400 guests. In addition, there are 15 other conference rooms ranging in size from 80 to 430 square metres, all equipped with the latest audio and video technology.

Looking forward to 2012
Based on an increasingly stable economic trend, Maritim can now look forward to 2012 with confidence and expects to achieve a slight increase in turnover.

One of the focal points of corporate strategy will continue to be the company’s expansion abroad, mainly in China, where five further hotels are to be opened in the next few years.

Press enquiries: Britt Winter, Director Public Relations
Maritim Hotelgesellschaft mbH, Herforder Str. 2, 32105 Bad Salzuflen, Germany
Telephone +49-(0)5222-953-280, telefax +49-(0)5222-953-128,
E-mail: bwinter.hv@maritim.de.