Steigenberger Hotel Group: Successful interim results in 2006
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Steigenberger Hotel Group: Successful interim results in 2006
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2006-08-08
The Steigenberger Hotel Group is satisfied with its development in the first half of 2006. The group’s 79 hotels were able to increase turnover, occupancy rates and the average room rate and have managed to hold their own positively in the market.
The hotels in the Frankfurt-based Steigenberger Hotel Group enjoyed a successful first half of 2006. Both the Steigenberger Hotels and Resorts with 51 four and five star hotels, and the 28 comfort-class InterCityHotels were able to increase turnover by 4.2 percent compared to the first half of 2005. The average occupancy rate rose by 0.4 percent to 62 percent, the average room rate leapt up by €6.75. This in turn had a positive effect on the yield, which in the first six months of this year was around 9.4 percent higher than the same period in the previous year.
The FIFA World Cup, which took place in June this year, made a great impact on the positive interim result with over 10,000 additional nights of room reservations. In the World Cup month of June, the group’s turnover improved by 17 percent compared with June 2005.
Spokesman of the Steigenberger board of directors, Karl Anton Schattmaier, is positive about the further developments in 2006. “The upturn in the economic climate and sustained effects from the FIFA World Cup event should mean that a higher average room rate can also be achieved in the upcoming months,” he said. “In particular, Germany’s improved image, which was fuelled by the World Cup should not be underestimated and could lead to an increase in demand in the long term.”
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