TUI Hotels & Resorts

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The Group’s hotel companies are pooled in TUI Hotels & Resorts. The sector reported a total of 3.9 million bednights in the first quarter of 2009. Bed occupancy totalled 68% in the first quarter, down 6 percentage points year-on-year. Many hotel complexes, in particular in the Eastern Mediterranean, were not open during the winter months, as planned. The individual hotel groups and regions showed variations in the development of business.

TUI Hotels & Resorts – Key figures

€ million	Q1 2009	Q1 2008	Var. %
Turnover	95.8	93.9	+ 2.0
Divisional EBITA	12.7	13.2	- 3.8
Gains on disposal	–	–
Restructuring	–	–
Purchase price allocation	–	–
Other one-off items	–	–
Underlying divisional EBITA	12.7	13.2	- 3.8

Capital expenditure	20.4	50.7	- 59.8
Headcount (31 March)	14,326	13,365	+ 7.2

Turnover and earnings
TUI Hotels & Resorts posted consolidated turnover growth of 2% in the first quarter of 2009. Both the number of bednights sold in the first quarter and average revenues per bednight rose year-on-year on higher capacity.

In the first quarter of 2009, underlying earnings totalled €13m, down 4% year- on-year. No special effects had to be adjusted for in the first quarter of 2009. Reported earnings were down 4% year-on-year.

TUI Hotels & Resorts

Hotel brand	Capacity ('000)¹⁾ Q1 2009	Q1 2008	Var. %	Occupancy rate (%)²⁾ Q1 2009	Q1 2008	Var. % points	Average revenue per bed (€)³⁾ Q1 2009	Q1 2008	Var. %
Riu	3,885	3,657	+ 6.2	77.5	83.7	- 6.2	54.00	50.95	+ 6.0
Magic Life	481	518	- 7.1	38.1	42.3	- 4.2	35.19	34.24	+ 2.8
Grupotel	105	106	- 0.9	48.7	47.0	+ 1.7	34.44	34.38	+ 0.2
Iberotel	581	584	- 0.5	49.0	55.9	- 6.9	38.35	33.67	+ 13.9
Robinson	565	471	+ 20.0	55.6	69.0	- 13.4	98.36	97.29	+ 1.1
Grecotel	–	2	n/a	–	21.5	n/a	–	140.82	n/a
Dorfhotel⁴⁾	58	57	+ 1.8	66.5	65.1	+ 1.4	19.42	17.59	+ 10.4
aQi	21	–	n/a	63.5	–	n/a	60.06	–	n/a
Total	5,696	5,395	+ 5.6	68.4	74.5	- 6.1	54.97	51.88	+ 6.0

1) Number of owned/leased beds multiplied by open days per quarter
2) Occupied beds divided by capacity
3) Arrangement turnover divided by occupied beds
4) Key figures refer to two owned hotels

Riu

Riu, one of Spain’s leading hotel chains, operated 103 hotels in the period under review. In the first quarter of 2009, capacity grew 6% year-on-year to around 3.9 million hotel beds available. Average occupancy of Riu hotels fell by 6 percentage points to 78% due to lower occupancy levels in the regions Jamaica, Cape Verde Islands and Canary Islands. The decline in occupancy was due to the global downturn in economic activity and the reduction in tour operator capacity. Average revenues per bednight climbed by 6%, in particular due to the rise in the US dollar exchange rate. This development resulted in higher translated income for hotels in the US dollar currency region.

Magic Life

Magic Life, the all-inclusive club brand, operated five of its 13 complexes in the first quarter of 2009. Capacity on offer declined year-on-year since two facilities in Tunisia were not open. Occupancy declined by 4 percentage points. Average revenues per bednight grew by 3% year-on-year.

Grupotel

In the first quarter of 2009, 18 of the 34 hotels of the Grupotel chain in Majorca, Menorca and Ibiza were open. Grupotel achieved an occupancy rate of 49% on almost unchanged capacity, up 2 percentage points year-on-year. Average revenues per bednight matched the previous year’s level.

Iberotel

In the first quarter of 2009, 17 of the 20 facilities in Egypt, the United Arab Emirates and Germany were open. At 49%, utilisation of Iberotels fell 7 percentage points short of 2008 levels. Average revenues per bednight showed a positive development.

Robinson

Robinson, market leader in the premium club holiday segment, operated 17 of its 22 club facilities in the first quarter of 2009, with five facilities seasonally closed. The considerable capacity expansion year-on-year was caused by the two new clubs in Morocco and Portugal. Occupancy declined year-on-year. Average revenues per bednight were 1% up year-on-year.