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    LBAG   DE0005141006

DESIGN HOTELS AG

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design hotels AG : Press Release: Write-down affects Results of Design Hotels AG in 2012

01/21/2013 | 03:55am EDT
Press Release January 21, 2013 Design Hotels AG: Impairment write-down affects Results in 2012

Berlin - The management and Supervisory Board of Design Hotels AG (m:access, München: LBA; ISIN: DE0005141006) have agreed on an impairment write-down in 2012 in the amount of approx. 400,000 Euros. The company anticipates that funds due on services rendered for a hotel development project will not be recoverable. The written-off receivables will be fully recognized in the Profit & Loss statement in 2012. Design Hotels AG will therefore not achieve its budgeted EBITDA results; instead EBITDA will amount to 100,000 Euros below the previous year. Other Key Performance Indicators will be affected accordingly.
CEO Claus Sendlinger commented: 'Without the impairment write-down we would have exceeded our budgeted operational results for 2012. The year has been very successful and we managed to increase revenues in all our business units. Therefore, it is very regrettable that we need to adjust our results.'

Contact:

Design Hotels AG
Claus Sendlinger (CEO) Stralauer Allee 2c
10245 Berlin
Tel. +49 (0)30 88 494 00 14
Fax +49 (0)30 25 933 01 7 ir@designhotels.com

About Design Hotels

Design Hotels represents and markets a curated selection of more than 240 independent hotels in over 40 countries across the globe. More than a collection of hotels, the company is a collection of stories. Each property reflects the ideas of a visionary hotelier, an "Original," someone with a passion for genuine hospitality, cultural authenticity, thought-provoking design and architecture. Each "Original" stands for the individual, aesthetic and service-driven experience that his or her hotel provides. Founded by Claus Sendlinger in 1993, Design Hotels™ offers its members insightful travel industry knowledge, from market trend consultancy to international sales representation. The company has its headquarters in Berlin and branches in London, Barcelona, New York, Singapore and Perth.
www.designhotels.com, ISIN : DE0005141006, m:access Munich Stock Exchange (Regulated
Unofficial Market)

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