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Report

Fairmas Hotel Report

Edition June 2016

Performance Analysis: April 2016 in some major German destinations And a preview on the next three months

In focus: Energy audit requirement of the German law on energy services (EDL-G) – solutions for the hotel industry

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Hotel Performance & Trends

06|16

Report

Fairmas Hotel Reportin cooperation with Solutions Dot WG

Occ: 80 %, ADR: 99 €, RevPar: 80 €May went in Berlin went better than had previously been imagined. The preconditions were similar to last year. There was only one full business week and May 1 fell on a Sunday. The leisure-sector demand without the long weekend was accordingly low. The “Re:publica” went somewhat better last year. In addition, the DFB Cup Final was weaker this year. The Diabetes Congress took place over the Ascension weekend, which is always heavily booked in Berlin. The Whit weekend and Corpus Christi generated good business.

Occ: -1.2%; ADR: -12%; RevPar: -13%

Berlin hotels will probably be unable to

repeat last June’s outstanding results.

The Champions League final, which led to very high

increases in room rates, is very noticeable by its ab-

sence this year. Certainly, the ILA will ensure some de-

mand, as indeed will the Hauptstadtkongress (Capital

City Congress) and the Parkinson‘s Disease medical

convention. A large number of convention inquiries

and some weekends marked by high demand also

offer a little hope. June will not be as good as last year,

but perhaps both the Panorama und Fashion Week

events may still ensure positive developments.

Occ: -2.7%; ADR: +2.1%; RevPar: -0.7%

July is expected to be slightly better than

last year. No major events, congresses

or trade shows are taking place in July. Because the

month falls within the school summer holiday period,

it has traditionally been dominated by tourism. Most

hotels are expecting a similar level of demand to last

year. There will not be any major changes in terms of

room rate, either. RevPar will remain roughly at last

year’s levels.

Occ: -0.1%; ADR: +3.2%; RevPar: +3.2%

August business has been getting stronger

over the past few years. Demand, espe-

cially in the leisure segment, always develops at short

notice, but it can be relied upon. The school holidays

span the whole month and continue into September.

Security concerns mean that more and more people

are taking their holidays in their own country. Berlin

will certainly get its own piece of the cake.

06 07 08

May 2016 – Berlin better than expected

Trend

-1,4%

+2,4%

+1,1%

Occ ADR RevPar

© Fairmas 2016

Occ: + 8.7 % ADR: + 5.8 %

RevPar: + 14.9 %

Occ: + 4.9 % ADR: - 2.8 %

RevPar: + 1.9 %

Occ: + 1.6 % ADR: + 3.4 %

RevPar: + 4.9 %

Occ: - 0.4 % ADR: + 2.3 %

RevPar: + 2.3 %

Occ: -1,6 % ADR: + 2.0 %

RevPar: + 0.3 %

Occ: -1,4 % ADR: + 2.4 %

RevPar: + 1.1 %

Occ: + 4.9 % ADR: + 27.4 %

RevPar: + 33.8 %

Occ: - 0.6 % ADR: + 6.2 %

RevPar: + 5.6 %

Occ: + 3.3 % ADR: + 5.4 %

RevPar: + 8.9 %

Occ: + 0.8 % ADR: + 4.2 %

RevPar: + 5.1 %

Occ: + 6.3 % ADR: + 5.5 %

RevPar: + 12.1 %

Occ: + 4,5 % ADR: + 7,7 %

RevPar: + 12.4 %

Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16


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Report


May 2016 – Further growth in DusseldorfOcc: 70%, ADR: €103, RevPar: €72May was better than expected. Certainly, the two days of the DRUPA trade show were the main reason for the growth in RevPar. However, a large amount of leisure business around the public holidays also generated a lot of revenue at short notice. The good weather reinforced this trend. Although May 1 was on a Sunday, Corpus Christi (in June last year) was also in May this time. Many events in the city, such as the fi-nals of the “DSDS” TV talent show, a number of concerts, and the “Japan Day” all meant extra business.

Occ: +7.1%, ADR: +38%, RevPar: +48%

June continued to be a positive month.

The main reason is the DRUPA trade

fair, even if the forecasts for this are comparatively

disappointing. Demand has risen again in recent

weeks. Hoteliers are reporting fully booked hotels.

In addition, the three remaining business weeks are

very well booked and will lead to good corporate and

MICE trade.

Occ: +8.5%, ADR: +5.9%, RevPar: +15%

The forecasts for July are very good. On

the one hand, there are similar events to

last year. However, the school summer holidays begin

one week later. This means that there is still time for

some very good corporate business at the beginning

of the month. This is all reason enough for the hotel

industry in Dusseldorf to look forward to July with

optimism.

Occ: 0.6%, ADR: + 5.3%, RevPar: + 4.6%

So far, the advance booking situation

for August is far from ideal. The school

summer holidays run through the whole month. And

there will be no major events apart from the Classic

Days. However, the generally positive price develop-

ment gives rise to the hope that August will close with

an upturn in RevPar.

06 07 08

6,1%

15,9%

22,9%

Occ ADR RevPar

Trend© Fairmas 2016

Occ: - 4.5 % ADR: + 4.1 %

RevPar: - 0.6 %

Occ: - 2.5 % ADR: + 2.7 %

RevPar: + 0.3 %

Occ: + 3.5 % ADR: + 5.8 %

RevPar: + 9.3 %

Occ: - 3.6 % ADR: + 6.4 %

RevPar: + 2.5 %

Occ: - 9,3 % ADR: + 1,9 %

RevPar: - 7,6 %

Occ: + 6.1 % ADR: + 15,9 %

RevPar: + 22.9 %

Occ: + 8.2 % ADR: + 31.1 %

RevPar: + 41.9 %

Occ: + 2.8 % ADR: + 6.8 %

RevPar: + 9.9 %

Occ: + 2.7 % ADR: + 15.2 %

RevPar: + 18.3 %

Occ: - 1.3 % ADR: - 0.7 %

RevPar: - 2.0 %

Occ: + 2.4 % ADR: + 3.8 %

RevPar: + 6.3 %

Occ: + 22.4 % ADR: + 35.8 %

RevPar: + 66.3 %



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Report


May 2016 – Frankfurt remains growingOcc: 70%, ADR: €110, RevPar: €76The positive expectations of the Frankfurt hotel sector were actually exceeded with a seven percent growth of RevPar in May. The IFFA trade show, which takes place every two years, was again held. This was the main reason for the upturn in room rates. Despite the many holidays, corporate and event business was also encouragingly strong – even during the weeks affected. The last weekend of May was well booked with leisure and individual business thanks to Corpus Christi.

Occ: -3.0%, ADR: -14%, RevPar: -17%

So far, forecasts for June have been

extremely negative. In June 2015, the

Achema trade fair was held. This event is always

accompanied by very high occupancy figures and

a very healthy ADR. That is the main reason for the

enormous drop in room rates since last year. The Op-

tatec and Texcare trade fairs were unable to outweigh

the Achema event, in terms of either occupancy or

ADR. But this June there no public holidays and no

major trade fairs before the school summer holidays.

Event and corporate business may improve the

situation somewhat.

Occ: -3.9%, ADR: +4.4%, RevPar: +0.3%

July is still difficult to figure out. MICE

demand at the beginning of the month is

still very promising. The summer holidays mean there

are only two business weeks while leisure demand

has so far been rather hesitant. The next few weeks

will show whether anything will change in this respect.

Occ: -1.4%, ADR: +4.9%, RevPar: +3.4%

This holiday month is generally a difficult

one. There are no special events, and

general corporate and MICE demand is rather on

the low side. Leisure business is anyway difficult to

predict. There is a little hope in the last three days of

August, because the school holidays will then already

be over and more corporate business can again be

expected.

06 07 08

3,3% 3,5%

6,9%

Occ ADR RevPar


Occ: - 0.6 % ADR: + 5.8 %

RevPar: + 5.3 %

Occ: + 3.9 % ADR: + 11.1 %

RevPar: + 15.5 %

Occ: + 0.0 % ADR: + 0.1 %

RevPar: + 0.0 %

Occ: + 1.6 % ADR: + 4.6 %

RevPar: + 6.0 %

Occ: -5,2 % ADR: + 4.1 %

RevPar: - 1,3 %

Occ: +3,3 % ADR: + 3.5 %

RevPar: + 6.9 %

Occ: + 13.5 % ADR: + 31.0 %

RevPar: + 48.9 %

Occ: + 2.4 % ADR: + 4.5 %

RevPar: + 6.9 %

Occ: - 0.1 % ADR: + 3.0 %

RevPar: + 3.1 %

Occ: - 3.6 % ADR: + 3.3 %

RevPar: - 0.4 %

Occ: - 3.3 % ADR: + 1.7 %

RevPar: - 1.7 %

Occ: + 12.0 % ADR: + 8.5 %

RevPar: + 21.5 %



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May 2016 – Hamburg below last year‘s performanceOcc: 81%, ADR: €117, RevPar: €95The forecasts for May were not exactly encouraging. Due to the many public holidays this year, May only has calendar week 19 as a full business week, which explains the decrea-se in occupancy, as there was little MICE and corporate de-mand. Corpus Christi was again in May this year, alongside the May 1 public holiday, Ascension and Pentecost. The slight increase in room rates that had been expected did not occur. The hotel industry in Hamburg also missed the Röntgenkon-gress (Congress of Radiology) this year.

Occ: -0.5%, ADR: +2.5%, RevPar: +2.0%

June looks positive overall. A similar

trend to last year is expected. Since there

are no public holidays, June remains a full business

month. At present, the advance booking level for the

tourism and transient segment is still low, according

to some hoteliers. The absence of the Hafenkongress

(Port Congress) is not helping the hoteliers. However,

many of them are still expecting a good business

month.

Occ: +0.5%, ADR: +6.3%, RevPar: +6.9%

No summertime slump in Hamburg! In

many places, the school summer vaca-

tions do not start until the end of July. This means, a

great deal of corporate business certainly can be ex-

pected at the beginning of the month. Otherwise, this

summer month is in any case very well booked by

coach parties. On its own, this is providing enough

reasons for Hamburg hoteliers to be optimistic.

Occ: +0.3%, ADR: +4.9%, RevPar: +5.2%

The forecasts for August are also healthy.

Advance bookings are at roughly the

same level as last year, giving reason to be hopeful.

Leisure sector trade again depends very much on

the weather, and short-term business can thus be

expected. However, the Hamburg market is looking

forward towards the summer with confidence.

06 07 08

-3,1%

-0,3%

-3,4%

Occ ADR RevPar


Occ: + 3.3 % ADR: + 5.0 %

RevPar: + 8.5 %

Occ: - 1.2 % ADR: - 9.5 %

RevPar: - 10.6 %

Occ: - 0.9 % ADR: + 2.1 %

RevPar: + 1.3 %

Occ: - 2.3 % ADR: + 3.1 %

RevPar: + 0.9 %

Occ: - 2.0 % ADR: - 0.1 %

RevPar: - 1.9 %

Occ: - 3.1 % ADR: - 0.3 %

RevPar: - 3.4 %

Occ: + 1.9 % ADR: + 4.0 %

RevPar: + 6.0 %

Occ: - 5.1 % ADR: + 0.4 %

RevPar: - 4.9 %

Occ: - 2.6 % ADR: + 2.5 %

RevPar: - 0.1 %

Occ: - 0.6 % ADR: + 3.8 %

RevPar: + 3.2 %

Occ: + 1.1 % ADR: + 3.8 %

RevPar: + 4.8 %

Occ: + 4.7 % ADR: + 4.9 %

RevPar: + 9.7 %



06|16

Report


May 2016 – Lack of events in CologneOcc: 68%, ADR: €94, RevPar: €63May was not a merry month for the hotel industry in Cologne. There was hardly any demand. The large number of public holidays meant that the weeks of business sector trade were completely dismembered. There was also a lack of major events this year. Last year, the Interzum trade fair was very significant for the May performance. However, it was missing this year, just like the FESPA event. At most, the Final4 and Drupa events have had a significant positive impact. In addi-tion, May 1 did not fall on a convenient day, either. Leisure demand was depressed by the lack of a long weekend.

Occ: +2.4%; ADR: +19%; RevPar: +22%

The forecast for June is very different –

increases in all three key parameters.

June will be a full business month because the public

holidays all fall in May this year. The trade fair situation

is also very promising. In line with its four-year cycle, the

Drupa event is again being held his year, and it promises

to generate very strong demand and high room rates.

The “ANGA COM“ event is also ensuring a positive mood,

due to the strong demand it generates.

Occ: +1.2%; ADR: +8.3%; RevPar: +9.6%

There was no summer slump in Cologne

this year. The highlights are similar to last

year’s: Christopher Street Day and the “Kölner Lichter”

event are already generating demand. Besides this, the

school holidays begin one week later. Thus, the first

week of July will again be marked by healthy conference

and corporate trade. The weekends remain highly

weather-dependent.

Occ: -7.0%; ADR: -1.6%; RevPar: -8.5%

There has hardly been any demand for the

first two weeks of August. The main reason

for this is the school summer holiday period. Last year,

the “gamescom” event took place during the school ho-

liday period. This will not be the case this year. However,

the gamescom itself is very much in demand. Because

of the room rate structure and the general booking

situation at this time, hardly any meeting and business

guests can be expected during this week, either.

06 07 08

-9,9% -10,3%

-19,0%

Occ ADR RevPar


Occ: - 0.3 % ADR: + 3.7 %

RevPar: + 3.4 %

Occ: - 3.7 % ADR: - 6.8 %

RevPar: - 10.4 %

Occ: + 1.6 % ADR: + 4.8 %

RevPar: + 6.4 %

Occ: + 2.8 % ADR: + 4.7 %

RevPar: + 7.5 %

Occ: - 8,9 % ADR: - 19,4 %

RevPar: - 26,6 %

Occ: - 9,9 % ADR: - 10,3 %

RevPar: - 19.0 %

Occ: + 10.7 % ADR: + 11.3 %

RevPar: + 23.3 %

Occ: + 4.3 % ADR: + 10.2 %

RevPar: + 15.0 %

Occ: + 8.5 % ADR: + 30.3 %

RevPar: + 41.3 %

Occ: - 1.9 % ADR: + 4.4 %

RevPar: + 2.5 %

Occ: - 2.7 % ADR: + 1.4 %

RevPar: - 1.3 %

Occ: + 7.2 % ADR: + 9.0 %

RevPar: + 16.9 %



06|16

Report


May 2016 – Losses in MunichOcc: 75%, ADR: €128, RevPar: €96May was marked by a large number of public holidays. Such major events as the Analytica and the ECE convention, as well as the two days of the IFAT trade fair at the end of the month all provided reasons to be cheerful. This year, the two weeks of the Whitsun school holidays fell entirely within May. However, the early Whitsun and the bad weather ensured that leisure demand was lower than expected. The lack of a long May 1 weekend was also led to dramatic declines in demand in Munich.

Occ: -0.8%; ADR: +4.8%; RevPar: +4.0%

June was a full business month. Neither

public holidays nor school vacations

are getting in the way of corporate business. Things

were very different last year. The hotel industry still

benefited from the two days of the IFAT event at the

start of the month. Besides this, two lucrative trade

shows (the Automatica and Intersolar) are taking

place at the same time. The optimistic forecasts thus

seem entirely justified.

Occ: +0.3%; ADR: +4.6%; RevPar: +4.9%

Expectations for the high summer in

Munich are also encouraging. The

generally welcome developments over the last few

months do give reasons for optimism. Besides this,

July is always a good business month because of the

absence of school holidays. This year, Ramadan ends

around two weeks earlier than in 2015. However, it

remains to be seen how great the scepticism of guests

from Arab countries will be, given the attacks in Paris

and Brussels.

Occ: +0.3%; ADR: -2.3%; RevPar: -2.1%

Forecasts for August are still cautious.

The school holidays are spread out over

the whole month. It is still difficult to assess which im-

pact the early end of Ramadan and the travel activity

will have on the business month. The preconditions

are otherwise similar to last year’s.

06 07 08

-5,5%

3,2%

-2,5%

Occ ADR RevPar


Occ: + 0.9 % ADR: + 6.9 %

RevPar: + 7.8 %

Occ: - 2.1 % ADR: - 1.1 %

RevPar: - 3.1 %

Occ: - 1.0 % ADR: - 6.8 %

RevPar: - 7.9 %

Occ: - 6.4 % ADR: - 8.6 %

RevPar: - 14.3 %

Occ:+ 0.3 % ADR: + 8.5 %

RevPar: + 8.8 %

Occ:- 5.5 % ADR: + 3.2 %

RevPar: - 2.5 %

Occ: + 4.6 % ADR: + 1.8 %

RevPar: + 6.5 %

Occ: + 0.1 % ADR: + 7.9 %

RevPar: + 8.0 %

Occ: - 1.3 % ADR: + 4.5 %

RevPar: + 3.0 %

Occ: - 5.2 % ADR: + 1.9 %

RevPar: - 1.3 %

Occ: - 6.1 % ADR: - 5.8 %

RevPar: - 11.4 %

Occ: + 13.0 % ADR: + 59.1 %

RevPar: + 79.8 %


06|16ENERGY AUDIT REQUIREMENT OF THE GERMAN LAW ON ENERGY SERVICES (EDL-G) – SOLUTIONS FOR THE HOTEL INDUSTRY

ENERGY AUDIT REQUIREMENT OF THE GER-MAN LAW ON ENERGY SERVICES (EDL-G) – SOLUTIONS FOR THE HOTEL INDUSTRYArticle 8 of the German law on energy services and other energy efficiency measures (EDL-G) also places hotels and hotel

chains that are not SMEs under an obligation to comply with the regulations.

Current challenge for the hotel industry

If hotels or hotel chains have not carried out and proven an energy audit according to DIN EN 16247-1 before 5 Decem-ber 2015, fines of up to € 50,000 each may be imposed on the lowest legal entities.

There is however a possibility to extend the deadline: hotels which opt for the implementation of an energy management system (EnMS) according to ISO 50001 benefit from an ex-tended implementation period. In this case, the affected company is obliged to prove a certified EnMS according to ISO 50001 until 31 December 2016.

Many hotels which have not yet dealt with this issue are now forced to take action.

Background: the European Article 8 EED – a challenge for

multinational companies in the EU

In order to approach the self-defined 20-20-20 goal in the area of energy efficiency, the EU has committed all member states to ensure that large enterprises implement energy ef-ficiency measures.

The requirements of Article 8 EED have already been trans-posed into national law in most EU member states, whereby Article 8 EED only lays down the legal framework - the re-quirement for non-SMEs to carry out energy audits - within which the states are to implement their regulations.

And the EU member states have made use of this decision-making authority: the resulting picture at EU level is very heterogeneous. This poses major challenges particularly for companies with sites in different EU member states. It must be clarified in which member state the company is at all af-fected and which requirements may need to be met there.

The German transposition of Article 8 EED in the law on energy services (EDL-G)

The provisions of § 8 et seqq. EDL-G (law on energy servi-ces and other energy efficiency measures) transpose the Eu-ropean commitment to carrying out energy audits in large enterprises into German law. The Federal Office of Econo-

mics and Export Control (BAFA) thereby take on the monito-ring function.

All enterprises that are not SMEs must carry out an energy audit according to DIN EN 16247-1 or alternatively imple-ment an EnMS according to ISO 50001 or an environmental management system according to EMAS. The initial energy audit already had to be carried out by 5 December 2015 at the latest and it is compulsory to carry out a repeated audit at least every four years after the preceding energy audit. These regulations do not only apply to the manufacturing industry: trade, banks, tourism, insurances, private hospitals and all other service providers are also affected!

The legislator grants an extended implementation period for the implementation of an EnMS according to ISO 50001 or an environmental management system according to EMAS because “high-order systems” guarantee a sustainable ad-ded value for companies and the environment. These sys-tems however must also be fully implemented and certified or validated by an accredited certification body by 31 Decem-ber 2016 at the latest.

The BAFA have already started to audit the degree to which the requirements are met. Depending on the individual circumstances, the BAFA decides how to deal with missed deadlines and the amount of the fine.

Due to the different national regulations, it is extremely com-plicated for multinational companies to determine whether they are affected and which requirements result from it. In addition, various legal constellations in relation to operation or ownership conditions exist in the hotel industry - these are also criteria for the determination of “affectedness”.

A comprehensive and correct interpretation of these criteria is therefore vital - and provides clarity as to who to which

extent is affected by the impending fines. The following ex-amples illustrate the complexity of determining the status “SME or non-SME”.

What is a large enterprise?

According to Article 8 EED only large enterprises (non-SMEs) are affected by the Directive. Companies are large enterpri-ses if, in accordance with the European Commission’s SME definition (361/2003), they have more than 250 employees or a turnover higher than € 50 m and a balance sheet total higher than € 43 m. This non-SME definition applies Europe-wide but is being interpreted or modified differently by the individual countries, which directly impacts the companies’ “affectedness”.

Foreign parts of companies

In most member states, all foreign investments (including non-EU countries) need to be taken into account as well. Here, the SME definition is also being interpreted differently by the member states: In addition to the criterion of sites abroad for example, some member states have introduced a second criterion oriented on energy consumption in order to identify affected companies.

Alternative compliance instruments

The approved alternatives to an energy audit according to DIN EN 16247-1 are also different from member state to member state. While the EnMS according to ISO 50001 is


approved in all member states, this does not however ap-ply to environmental management systems according to ISO 14001 and EMAS. The extent to which the mentioned management systems cover the minimum requirements or whether an “adjustment” is necessary is also being assessed in an inconsistent manner.

Penalties

The Energy Efficiency Directive explicitly requires “effective, proportionate and dissuasive” penalties. Many member states have reacted with penalties of up to € 50,000. Some member states, France for example, even clearly go beyond this with fines amounting to 2% of the annual turnover. In the United Kingdom apart from fines, publishing the company name in a corresponding register is also provided for.

What needs to be done?

It is useful to look at the issue of EED compliance from a stra-tegic, pan-European perspective and not to leave the task of compliance to every individual country representative. Only this way can efficient, cost-effective solutions for the entire organization be implemented: A multinationally oriented compliance approach is an important prerequisite for tur-ning the received impulses in the whole company into a stra-tegy for sustainable competitive advantages.

Why an EnMS according to ISO 50001?

Large hotels and particularly hotel chains usually operate on an international scale and to date ISO 50001 is the only tool for achieving legal compliance accepted EU-wide.

From a business point of view, the EnMS according to ISO 50001 is the preferred option compared with DIN EN 16247-1 for many companies in the services sector as well. The ISO standard is an efficient tool for sustainable investments with an impressive return on investment (ROI) as well as an excel-lent management tool for the whole company.

There are plenty of savings potentials in the hotel business: highly attractive investments can already be achieved with initial measures for the improvement of energy efficiency in the areas of ventilation/ cooling, hot water processing and building management systems. Efficiency improvements of up to 20% of the system performance (ROI of 2 years) are not uncommon.

For multinational hotels, the EnMS according to ISO 50001 provides many advantages compared with the country-spe-cific energy audit:

w central collection and analysis of performance data of individual hotels

w overview of the energetic situation in the entire company

w central identification of the essential savings potential (best practice)

w simple transfer of best practice examples within the framework of the EnMS across the entire group

w auditing by one service provider = accredited certifier (as for the energy audit, country-specific regulations concerning the requirements for the energy auditor have to be complied with)

w comprehensive data basis for the annual budgeting process


w simple benchmarking

w continual improvement of energy performance

w systematic reduction of the energy costs

w improvement of competitiveness

Therefore the EnMS according to ISO 50001 is generally the most efficient and cost-effective solution for fulfilling the requirements of the EU Directive on an international scale. Companies that opt for this can, under certain conditions, also claim subsidies (i.a. for consulting, employee training, certification costs) of up to € 20,000.

GUTcert will be pleased to help with any questions rela-ting to Article 8 EED compliance, clarification regarding the company’s situation in other EU-countries or a suitable EED compliance strategy.

Teresa Schlüter GUT Certifizierungsgesellschaft für Managementsysteme mbH

Umweltgutachter

[email protected]


The Fairmas Hotel Report is published by Fairmas Gesellschaft für Marktanalysen mbH, Sachsendamm 6, 10829 Berlin, Deutschland Solutions Dot WG GmbH, Kranzer Strasse 6-7, 14199 Berlin, Deutschland

Fairmas Gesellschaft für Marktanalysen mbH specializes in market analyses and the development of planning and controlling software for the hotel industry. The company offers its international cliente-le a hotel benchmarking platform, as well as various software applications for the fields of budgeting, forecasting, controlling, management reporting and work process optimization.

As a strategic management consultancy, Solutions Dot WG develops individual and customized stra-tegies and solutions for companies in the hotel, catering and tourism, and provides support in imple-menting plans. Solutions dot also manages independent project implementation, is active in support management and interim management, as well as in the total quality management (TQM) sector.

The Fairmas Hotel Report is edited by: Nadine Kilian, Marketing & Communications Manager Fairmas Gesellschaft für Marktanalysen mbH EMayl: [email protected]

Melanie Schlüter, Project Manager Fairmas Gesellschaft für Marktanalysen mbH EMayl: [email protected]

Disclaimer No representation or warranty (express or implied) is given as to the accuracy or complete-ness of the information contained in this publication, and, to the extent permitted by law, Fairmas GmbH / Solutions Dot WG do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the informa-tion contained in this publication or for any decision based on it.

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© Fairmas 2016

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