Turnover rises at Kempinski
Five-star international hotel group Kempinski has reported an 8.5% increase in turnover to €178m (£110m) in the first six months of the year.
In its hotels outside Germany turnover increased by 22% compared with last year.
In Germany, it fell by 2%, but there was a like-for-like growth of 3%. During the six months Kempinski's management contracts expired at three of its German hotels.
These were the Elephant at Weimar, the Sporting Club outside Berlin and the Surstenhos in Leipzig.
Pre-tax profits dropped by €970,000 (£600,000) to €610,000 (£375,000), reflecting the sale of the Kempinski hotels in Hamburg and Frankfurt and their conversion to management contracts.
The company said it still expected to achieve the €1.5m (£930,000) pre-tax profit forecast at its annual general meeting in July.
Kempinski is owned by the Thai royal family. It has 36 hotels which it runs through management contracts.
Twelve of its hotels are in Germany. The others are in France, Hungary, Spain, Turkey, the Ukraine, Switzerland, Morocco, the United Arab Emirates, Indonesia, India, China and Australia.
The company's flagship hotel is the 256-bedroom Adlon in Berlin.