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Dear Shareholders,
I am happy to inform you that our Company expanded further last year, at the same time also focusing on the modernisation and refurbishment of the existing network. Our revenue increased by more than HUF 5 billion, and as a result of the strict cost effectiveness measures the effectiveness of the Company increased at a significant rate at the level of operating profit, which, however, was reduced to average level only by the revaluation loss and payment of interest on the loans taken for the acquisitions carried out by the Company.
The outstanding growth of the occupancy rate is also attributable to the reorganisation of the sales and marketing activities by the operating Company, thus creating within the network a competitive atmosphere through the rotation of the hotel directors, which benefits the guests and Company alike. The building and opening of new hotels has encouraged our personnel to pursue their sales activities more aggressively. The Company’s sales offices abroad, to which a company based in Nuremberg was added in the course of the year to coordinate the existing offices and concentrate on the sales of our Hungarian and Czech spa hotels, have also contributed to the impressive occupancy rate.
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In 2000 we continued to raise awareness of our services in Hungary. Our family and Balaton holidays and active relaxation programmes are popular with the Hungarians, which is indicated by the growth of the ratio of nights spent in our hotels by Hungarians.
In this brochure we would like to present some of our programmes, in the hope that they will appeal to you, too, and we can receive you as our hotel guests. As you will see, in addition to Hungary, the brochure also covers the hotels of the magnificent Czech spa, Marianské Lázné. Last year we were only able to offer the services of a single hotel there, Hotel Villa Butterfly, but in the meantime we bought a company based in Marianské Lázné which has 12 operating hotels.
I feel confident to present our Annual Report to you and I am positive that both the Company profits as well as our plans regarding the future will meet your expectations.
Sándor Betegh
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