CEO Blog 18.12.2019

Review of 2019 – a good year for Hapimag

In taking a look back at recent months, we can see that we have come a great deal closer to achieving our goals. Hapimag is progressing positively, our guests are happy and I can already say that we are expecting a good annual result for 2019.

Our mission is to consistently exceed our guests’ expectations. That’s why I’m particularly pleased that we received such excellent guest feedback in 2019. 25 Hapimag resorts were awarded a TripAdvisor Certificate of Excellence and 20 resorts received a HolidayCheck Award – including 9 Gold Awards. In addition to that, our guest satisfaction hit a top level once again, reaching 84% (as of 16 December). This shows me that we got a lot right last year in terms of service quality. 

We expect a positive annual result for the 2019 financial year – as in previous years. Even though the average occupancy rate is expected to be lower than last year (72.4%), we still expect to exceed last year’s record of 415,000 guests. This means that we had more guests overall, but the average length of stay was shorter. In the interests of our community, we have also placed great emphasis on sustainable and customer-focussed management. This helps us to keep the annual charge stable. We will do everything possible to ensure that this also remains the case in the future.

As of 16 December 2019, we have sold a total of 1734 shares. That is approx. 410 more than last year – this represents an increase of 31 % and is a very good sign. We sold 568 shares to new customers and 1166 shares to existing customers. We also recorded a total of 5100 share transfers; 3353 transfers within families and 1747 outside of a family. It is good to see that our shareholders, as well as future generations, are convinced by our concept and are taking over Hapimag shares. 


New for our resorts 

Of course, we also invested in our resorts. In 2019, various upgrades and refurbishments were carried out – or are currently underway – at the Hapimag Resorts Mas Nou, Unterkirnach, Cannero, Interlaken, Pentolina, Scerne di Pineto, Bad Gastein and Munich. Depending on the resort, this means: new sofa beds, curtains, dining tables, chairs, dishwashers, etc. A new wastewater treatment plant will also be installed in Tonda and flood protection measures in Scerne di Pineto. In Antibes, we have also started to make the entrances within the resort accessible for people with disabilities. 

Larger building projects extend over several years, from the planning stage to completion. The total renovation in London is currently our biggest project. Most of the work has already been completed. Our goal is to reopen the resort at the beginning of the second quarter of 2020. We will of course notify you immediately of booking possibilities as soon as the opening date has been set. 

In the past few years, we have also equipped 40 resorts with new high-speed WiFi. It is now being installed in the remaining Hapimag resorts in stages. You can see in this overview which resorts already have high-speed WiFi. In addition to this, an electric car charging station has been installed in 16 Hapimag resorts. You can see where in this overview


We respond to your requests

In 2019, we took further steps to make Hapimag even more attractive. We have responded to the needs of our shareholders and members by introducing various changes: 

  • Since January, if you hold several shares, you benefit from discounts on your annual subscription charges

  • Since April, you are able to buy up to 120 additional residence points per share per year. Previously, the purchase rate was limited to 60 residence points. This increase is valid until further notice.

  • In July, we launched the new Points Platform. This replaced the Points Kiosk used previously. It is now much easier for you to buy and sell residence points. On average, almost twice as many points have been sold on the new Points Platform as via the old Points Kiosk (as of 15 December around 600,000). The benefit: as a result, fewer points expire and occupancy increases. 

  • In November we informed you that we will be gradually reducing Hapimag’s low-season points over the next few years. By making this adjustment, we are simplifying the points system and making the Hapimag business model easier to understand. Further details about this can be found here in this brochure

As you already know, just over two and a half years ago we started to make booking conditions simpler and more flexible. The result is beneficial for everyone: there are more apartments available – even in high season. If you would like to find our more about the changes, you will find a summary at www.hapimag.com/goodnews


Hapimag is getting better – thanks to good ideas 

Everyone can help us to make Hapimag successful and fit for the future. Many of you have done that; by giving feedback at a resort, for example, or in a personal conversation, with a valuable comment on the CEO Blog or by e-mail. Thank you! Last year, we were able to collect together countless great suggestions. The culture of discussion has noticeably improved and I greatly appreciate how people have engaged. It enables us to gather and evaluate ideas on a wide variety of topics so we can decide what the next improvements should be.

In September, we also opened a co-working space for the hospitality and tourism industry in our office building in Steinhausen. By working with innovative start-ups, we can further improve the holiday experience and benefit from new solutions. It goes without saying that we check each partnership to see whether it make sense for our community. Successful ones are continued and expanded, while partnerships with no tangible impact are discontinued.


Thank you very much for the trust you place in us

Overall, 2019 was a very good and successful year. Together with you, dear shareholders and members, we were able to achieve a great deal. We are on the right track. 

Finally, I would like to ask you one more favour. It is extremely important for our community and Hapimag's reputation that you share your enthusiasm for the company. Please tell your friends and acquaintances about your beautiful experiences and about the meaningful and sustainable idea behind Hapimag. Help get more people interested in holidaying with us. Recommend Hapimag to friends and family. Sharing makes our community strong. 

On behalf of the entire team, I would like to thank you for the trust you place in us. Together, we can head into the future with a great deal of motivation and commitment. I wish you a wonderful holiday period with your loved ones and all the best for the new year. 
 

Kind regards
Hassan Kadbi 
CEO

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