Design Hotels AG Reports Results for the 1st Half Year 2009
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Effects of global economic crisis impact turnover and net result
Berlin - Design Hotels AG (Regulated Market, Munich: LBA; ISIN:
DE0005141006), integrated provider of marketing and positioning
services for individually managed hotels and small hotel groups in
the New Luxury Segment, today reports its results for the 1st half
year of 2009 according to IFRS.
Financial Highlights for the Design Hotels Group:
Revenues for the first six months decreased by approximately 10% to
Â¤3.71 million (HY2008: Â¤4.14 million). With a drop of 26% to Â¤1.60
million, booking commissions were hit hardest by the economic crisis.
Contribution to total revenues went down to 43% (HY 2008: 53%).
Revenues from membership fees and Marketing Products/Consulting of
Â¤1.10 million and Â¤1.01 million respectively both showed modest gains
of 7% on a six month basis. Marketing Products/Consulting benefited
from a large project, which was invoiced in the first quarter of
2009. For the second quarter, this business segment however showed a
clear decrease in revenues by 28%, compared to the same quarter last
The gross margin came in at 74% and thus remained at last year's
EBITDA for the first six months was a negative Â¤131,000 as compared
to a positive Â¤382,000 for the same period last year.
EBIT for the first half of 2009 came in at a negative Â¤221,000 as
compared to a positive Â¤304,000 last year.
The Net Loss was Â¤208,000 compared to a net profit of Â¤309,000 in the
same period last year. The net loss per share was - Â¤0.02 (HY2008:
As per June 30th 2009, the Company had Cash and Cash Equivalents to
the amount of Â¤2.14 million, as compared to Â¤2.78 million as per
December 31st 2008. In the first six months Shareholder's Equity
decreased from Â¤5.64 million to Â¤5.44 million. The balance sheet is
free from any liabilities to banks or noteworthy goodwill.
CEO Claus Sendlinger commented: "After the weak start in 2009 for the
tourism industry, the sector remained under pressure during the
months April to June. The intermittent improvements in bookings
during the quarter unfortunately proved to be of a passing nature. We
do not foresee a speedy recovery.
For the short term we have therefore reacted by changing the focus on
our respective activities, without losing sight of our long term
goals such as strengthening of the Design Hotels brand, customer
loyalty to the organisation, as well as a continuous improvement of
The measures implemented include a structural adjustment in staffing
as well as a thorough revision of our sales offer in order better to
meet the current needs of the hoteliers. Our clients have a much
greater need for Sales and Marketing support from Design Hotels than
they would during the past economic boom. However, we are realistic
enough to accept that in times of crisis, budgets for external
service providers are generally rather reduced.
Additionally, we are focused on improving our presence in the Far
East, as well as to accelerate the expansion of our hotel portfolio.
As we believe that the Asian market will be the first to recover.
Therefore, we are looking to create the conditions that will allow us
to increase the contribution to revenues from this region through
expanding our hotel portfolio there and increasing brand awareness
with end customers. At the same time, we see that the crisis has
increased the need for hotels to affiliate themselves with strong
marketing organisations. This, we believe, creates opportunities to
strengthen the quality of our portfolio."
The complete Half Year Report is available for downloading via the
link at the end of this message and at www.designhotels.com
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
Tel. +49 (0)30 88 484 00 14
Fax +49 (0)30 25 933 01 7
Schwarz Financial Communication
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
Design Hotels AG (formerly: lebensart global networks AG) is an
integrated provider of communication and positioning services and
acts as a consultant for individually managed hotels and small hotel
groups. The service range of design hotels begins with the concept
for a hotel. Clients of design hotels AG can choose from a modular
service portfolio. With the brand Design Hotels(TM) the company
currently represents and markets a unique collection of over 184
individual hotels in more than 40 countries. Through its marketing
and communication activities Design Hotels AG forms the connection
between the member hotel and a global clientele looking for
self-determination and individuality.
www.designhotels.com, ISIN: DE0005141006, Munich Stock Exchange
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Design Hotels AG
Stralauer Allee 2c Berlin Germany
Listed: Open Market in Frankfurter WertpapierbÃ¶rse, Freiverkehr in
Freiverkehr in Hanseatische WertpapierbÃ¶rse zu Hamburg, Regulierter
Markt in Bayerische BÃ¶rse MÃ¼nchen;