NH Hoteles made a total of €62.2M in 2005,
12.8% more than it did the year before, thanks to
a fine performance from hotel activities.
Operating earnings for the group’s hotel activities
were actually €127.2M, 8.5% above those
recorded in 2004.
A good indicator of positive progress is that in
each quarter of 2005 hotels performed better than
the one previously, in earnings, EBITDA and also
in REVPAR.
Group earnings for 2005 came to €984.7M, 1.1%
more than in 2004, and hotel-related sales revenue
was €901.2M, 4.6% above the previous year’s
figure. The Spain and Portugal business unit was
the one which posted the biggest earnings,
totalling €348.4M and rising 2.1%, and there were
notable increases for the business units in
Switzerland, Austria and Hungary (11.3%), in the
Benelux area (5.8%) and in Germany, which yet
again has shown clear signs of recovery with
earnings rising 4.9% in like-for-like hotel terms.
Latin America showed a 10% increase in
comparable earnings.
With respect to EBITDA by business unit, the salient
aspects were the recoveries in Germany, with
operating earnings there in 2005 improving by
92.7%, in Switzerland and Austria, where EBITDA
was up by 79.8%, and in the Benelux zone, which
saw an increase of 16.8%.
These results were from a rise in REVPAR of 4.3% in
comparable hotel terms, after average occupancy
was recorded of 66.8%, up 5.2%, and an average
price of €71.20, down 0.8%.
In the fourth quarter ratios were better, with average
occupancy in comparable hotel terms of 68.3% and
an average price of €72.20.
The savings drive was reflected in a drop of 2.7% in
the cost per occupied room for comparable hotels.
As regards Sotogrande, earnings came to €83.4M,
which is 25.6% less than in 2004 and EBITDA was
€53.6M, down 29%. Notwithstanding this, signed up
sales pending posting as at 31 December 2005
amounted to €80M, against the figure of €64.8M
entered the previous year.
4 2005 Results
2005
results
24
Group earnings in 2005 climbed to €984.6 million,
which is 1.1% more than in 2004, and hotel sales
revenue was €901.2 million, some 4.6% above the
figure for the previous year.
