Baar, Switzerland (August 18, 2011) –– Hapimag, the leading company in the European market for part-time rights of residence, increased its total sales in the first half of the year by over 6% compared with the same period the previous year. In particular the sale of right of residence products contributed to this growth. The operating result, at EUR 1.9 million, showed a clear improvement over the previous year (EUR -0.7 million). The resorts portfolio is being extended with the addition of new city residences.
The total sales of the Hapimag Group from the first six months was EUR 85.5 million (previous year EUR 80.4 million). The sales in the 57 resorts and residences showed a slight increase to EUR 31.3 million (previous year EUR 30.7 million). The development at the four Swiss resorts in Ascona, Flims, Interlaken and Andeer was particularly positive; sales in Switzerland rose by 11.5% to EUR 3.6 million (previous year 3.2 million).
Turnover from sales of right of residence products showed a very positive development: At EUR 18.1 million, it was 34% above the turnover from the previous year (EUR 13.5 million). In particular the Swiss and German markets made significant contributions to this positive result. Overall, the operating result was EUR 1.9 million (previous year EUR -0.7 million).
The occupancy for all resorts and residences at 61.2% was maintained at practically the same level as the previous year (62.4%); only the occupancy at the Austrian resorts showed a slight decrease. Despite the strong Swiss franc, the occupancy at the Swiss resorts remained at a high level, unchanged at 72% as in the previous year.
New city residences
In Salzburg, an existing residential building in a central location is being converted. The opening of the 28 apartments is planned for 2013. The new city residence in Lisbon with 26 apartments will open in the same year.
Traditional Chinese Medicine (TCM) in Winterberg
Since June 2011, Hapimag has gone new ways in the existing resort in Winterberg/Upper Sauerland (DE): The health partner TCMedic GmbH is offering individual consultation and treatment fully in accordance with Traditional Chinese Medicine at the Hapimag resort. Hapimag is responsible for the accommodation and catering. As nutrition is an important component of TCM, Hapimag has opened an additional restaurant in the resort – the WOK.
The Hapimag company
Hapimag is a services company in the individual leisure and lifestyle sector and was founded in 1963. As the leading European company offering rights of residence, Hapimag provides over 141 000 members with access to an economically and ecologically sustainable platform with 57 addresses at top locations in 16 countries. Members, as co-owners, have at their disposal over 5300 apartments rent-free for individual use, complemented with location-specific gastronomy, wellness, cultural and infrastructural offers. The company employs approximately 1400 people (full-time) and in 2010 generated an operating income of EUR 172 million. Hapimag is a joint-stock company according to Swiss law and is based in
Baar/ZG (CH). www.hapimag.com