In the year under review the Thermalbäder & Grand Hotels Bad Ragaz was able to surpass the very satisfactory level of room reservations in the year 2000 - despite the negative consequences of the terrorist attacks in the USA for tourism world-wide. The Grand Hotels Quellenhof and Hof Ragaz and the Kurhotel Valens achieved a consolidated room utilization of 90.1% (previous year: 86.8%), thus placing the Grand Hotels Bad Ragaz in a leading position amongst Swiss Luxury Hotels.
For the first time the accounts of the Thermalbäder & Grand Hotels Bad Ragaz were drawn up in accordance with IAS (International Accounting Standards). This provides even greater transparency with regard to the financial development of the company. With the introduction of IAS, the company reports trading figures for the individual segments for the first time. In order to facilitate a comparison with the previous year, the profit-and-loss statement and the balance for the year 2000 were adapted in accordance with the IAS guidelines.
The consolidated turnover increased from CHF 77.0 Mio. to CHF 77.7 Mio. and an EBIT of CHF 8.3 Mio. to CHF 8.6 Mio. The Cash Flow generated amounted to CHF 12.2 Mio. which was approximately at the level of the previous year (2000 on a comparable basis: CHF 12.3 Mio.) and the profit/loss for the year closed at CHF 2.8 Mio., about CHF 0.3 Mio. above the previous year (CHF 2.5 Mio.). The Cash Flow development made possible the capitalization of the Casino Bad Ragaz AG and the funding of major investments, such as the renovation of the golf building, without having to draw on additional share capital and reserves or bank loans.
According to Willy Kissling, President of the Administrative Board, the Thermalbäder & Grand Hotels Bad Ragaz, as one of the leading Health, Spa & Golf Resorts in Europe, wishes to differentiate itself from its competitors within the luxury segment of the tourist trade by offering a range of services, clearly focussed on the latest trends, to guests in the areas of Health, Wellness, Business and Sport.
Thus, for example, the to B. Health Club, now extended to cover 2’500 m2 was made more attractive in 2001 by the inclusion of new and additional services.
The event of the year in 2001 was indeed the granting of a concession by the Federal Council at the end of October to operate a Category B Casino. The opening of the ÇSwiss Alpine Medical CenterÈ (SAMC) and the extension of the Medical Training Therapy (MTT) extended the Medical Centre in the field of sports medicine and thus represents an additional incentive for guests who stay at the Grand Hotels Bad Ragaz in the interests of preventive medicine.
Change of Name: The Administrative Board applies to the General Meeting to change the name from ÇThermalbäder und Grand HotelsÈ to ÇGrand Hotels Bad RagazÈ. The aim is to clearly position the label ÇGrand Hotels Bad RagazÈ on the market.
Outlook: The new Casino (expected inauguration: New Year 2002) and the opening of an additional 9-hole golf links in 2003 represent important milestones in the expansion of tourist options at the Grand Hotels Bad Ragaz and for the region.
For more informations:
Chairman of the Management
Phone +41 (0)81 303 30 30
Fax +41 (0)81 303 30 33