On the occasion of its reorganization carried out as of January 12, 1999, Danubius Hotels Rt. established a company under the name of Danubius Szállodaüzemeltető és Szolgáltató Rt. which is to operate the hotels owned by the Holding and the Real Property Management Companies.

The performance of the lease contracts based on the market value of the assets is suitable for measuring the profitability of the various buildings on an individual basis, verifying the correctness of the operational profile of the real properties or for encouraging our Company to find new ways of utilization. Through the individual performance of the buildings, the efficiency of the management of the individual hotels has also become easy to evaluate.

Danubius Szállodaüzemeltető és Szolgáltató Rt. operated 25 three-, four- and five-star hotels in 1999. The hotel room capacity of 5,775 represents buildings of which 55.6% are located in Budapest, 16.9% around Lake Balaton, 25.9% in the countryside and 1.6% in the Czech Republic, in the categories of hotels in the capital and in towns in the countryside, as well as spa and resort hotels.

In 1999, each of the hotels met its obligations undertaken in the lease contract, while conside-rable changes were made in the management of buildings which were less successful in respect of efficiency.

Revenues by Main Activities

Revenue per Guest Nights