The Hotelplan Group adjusted its capacity to the changed market conditions in the year under review. Sales dropped by 6.6%. However, an increase was posted in passenger figures.
Sales of the Hotelplan Group fell by 6.6% to CHF 1.4 billion in 2011. A large proportion of the drop is foreign currency related. The dramatic collapse of international travel markets in Arab countries following the Arab Spring also had a negative impact. However, passenger figures increased by 3.6% to a good 1.3 million.
Earnings before interest and taxes (EBIT) are down on the previous year. The loss rose by CHF –7.1 million to CHF –19.4 million (2010: CHF –12.3 million). This was mainly down to slow business in Italy and Russia.
With the sale of the Riviera Beach Club hotel, the Hotelplan Group took its final strategy step to disinvest the Horizonte Group. The resulting profit and restructuring costs in Italy were more or less in balance.
|in CHF million||2011||2010||Change in %|
|Net revenue from goods and services sold||1'390.7||1'489.3||–6.6|
|Other operating income||18||15.5||16.1|
| || || || |
|Earnings before finance income, income tax and pension plan effect (EBIT)||–19.4||–12.3||-57.7|
| || || || |
|Segment assets||148.9||153.1|| |
| || || || |
|Investments in long-term assets||10.1||16.1|| |
| || || || |
Hotelplan Suisse: previous year result nearly matched
Hotelplan Suisse had a difficult year due to numerous extraordinary events (Arab Spring, Fukushima, weak euro). However, the company nevertheless managed to hold its volume at a level comparable to that of the previous year. The business travel and retailing areas posted good results; classic tour operating, on the other hand, suffered under the existing circumstances. Via consistent cost management, the result nearly matched the level of 2010. In its North American business, a continued positive trend can be observed, buoyed by the attractive dollar rate.
In response to the structural change in the travel industry and changed customer requirements, Hotelplan Suisse made adjustments to the organisational structure in the year under review: tour operating was made leaner and the cost structure was optimised. As such, the organisational conditions were created for technical innovations, in particular dynamic packaging in online sales.
Profits at Interhome – investment in Inter Chalet
The holiday home agency Interhome improved its performance on the previous year by some CHF 0.5 million. This was achieved thanks to very good cost management and the integration of Vacando which was already decided in the previous year. Thanks to the strategically important investment of the Hotelplan Group in Inter Chalet Ferienhaus-Gesellschaft mbH, in which it holds 26% (2013: 100%), Interhome doubled its range of holiday homes and flats to 50 000 properties.
The online provider travel.ch performed well in the year under review. In Austria, the sales of travel.at were doubled only one year after being launched. travel.se started trading in Stockholm in autumn 2011.
Mixed picture abroad
Hotelplan UK managed to turn its performance around in the first year after acquiring the ski travel specialist Enigma-Travel and significant structural changes. Despite a difficult economic environment and a winter with little snow, Hotelplan UK again generated a solid, positive EBIT.
As in the previous year, expectations were again clearly missed at Hotelplan Italia and the Russian provider Ascent Travel. Huge restructuring measures were implemented in Italy in the year under review, which had an impact on the result of Hotelplan Italia. Particularly negative for the sales performance (–22%) in Italy were, in addition to the bad consumer sentiment, the developments in Arab countries.
Ascent Travel managed to increase its sales, but had to accept low margins, which resulted in a fresh loss. As regards the activities in Russia, where the Hotelplan Group has been active since 2007, several pull-out options are being considered.
Sustainability: certified hotels
Hotelplan Suisse increased its sustainability activities in the year under review and now has 200 hotels in its range, which have been awarded the internationally recognised sustainability initiative Travelife. In the beach holiday catalogues of Spain, Portugal and Italy, more than 170 sustainability houses were also offered. Hotelplan Suisse also continued its successful cooperation with Hotelplan Suisse in 2011 with the myclimate foundation (keyword: carbon offsetting tickets) and supported a carbon offsetting project in Brazil.
Targets and outlook
Following a financial year strongly affected by the currency crisis as well as political unrest and natural disasters, the management of the Hotelplan Group will concentrate on the following areas in the current year: the focus will be on the development of a dynamic online distribution in addition to being a classic tour operator. The rolling out of the dynamic packaging system is being promoted intensively. Thanks to the existing IT infrastructures, the company is confident of achieving the targets set in 2012. Hotelplan Italia is targeting substantial successes in its performance with efficient cost structures and the relaunch of the Turisanda brand. The withdrawal from the Russian travel market has been initiated; the implementation is planned for 2012.