Mövenpick Hotels & Resorts continues its “dynamic growth and profitability in 2005”.

The Swiss hotel chain posted overall sales of CHF 619.6 million or US$474.4 million (prior year: CHF 538.3 million), including consolidated sales of CHF 191.8 million (prior year CHF 178.7 million).

It was also stated that MH&R was able to more than double its EBIT (Earnings Before Interest and Taxes) result to CHF 6.1 million, up from CHF 2.9 million in 2004. The group’s secure and debt-free financial situation, which is exceptional within the hotel sector, provides the foundation for the continued growth of the international hotel chain, it stated.

The chain shared that expansion is proceeding on schedule: the number of hotels as at the end of 2005 was 54 (with 12,842 rooms), representing an increase of 8.7 percent relative to the prior year. The portfolio of Mövenpick Hotels & Resorts has thus almost doubled since 1999. As a consequence of this ongoing growth, the group was able to create no less than 1,270 new positions in 2005 and now boasts a total workforce of 10,450.

“The positive operating results are the consequence of a professional performance on all levels and create a basis upon which we can forge ahead with our expansion strategy in a targeted and steady manner,” said Jean Gabriel Pérès, president and chief executive officer, Mövenpick Hotels & Resorts.

“Our high quality standards, excellent culinary services and carefully selected managers are prompting an increasing number of hotel proprietors to entrust the management of their business to Mövenpick Hotels & Resorts. Alongside Europe, the Middle East and Africa, we are now focusing on the Asian region. Indeed, we have taken our first step toward India with the recent signing of a management agreement for a new hotel in Bangalore.”