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Hapimag Continues to Buck the Crisis With Positive Year-End Results

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14 Apr 2010

Hapimag Continues to Buck the Crisis With Positive Year-End Results

Hapimag, the leading European company for part-time rights of residence, has reported improved sales and company results for 2009 despite the difficult global economic situation, continuing the positive trend of previous years.

 

The company’s operating income for 2009 was 171.6 million euros, an increase of 3.7% on the previous year, whilst its sales revenue grew by 7% to 37.8 million euros. A high occupancy rate of 78.7% and the strength of the euro contributed to achieving positive operating results.

 

During 2009, Hapimag spent a total of 31.7 million euros in maintaining and expanding its resorts portfolio, including the opening of a new resort in Hörnum on Sylt (Germany).

 

Hapimag expects the good results to continue in 2010. Plans for this year include the reopening of the city residences in Amsterdam and Paris after extensive renovation work and the opening of the British Hotel in Dresden.

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