Sharing & caring forms the basis of Hapimag’s business model. The resorts and the corresponding infrastructure are financed collectively by many shareholders and members for the purpose of using the resorts for their individual holidays. In this way, Hapimag places great emphasis on sustainable and customer-focused management.
In 2020 Hapimag made ongoing investments. For more information on these, read the articles on Antibes and London. Smaller refurbishments also contribute to guests' well-being; for example in Munich the ambience was rated 8% better by the guests after the furniture and mattresses were replaced. This shows that you can achieve significant added value with smaller investments. Feedback from guests in the holiday surveys, for example on sleeping comfort, is incorporated directly into the planning.
Further capital expenditure is planned for 2021, depending on the pandemic situation. For example, Hapimag plans to start renovation work on the holiday apartments in Paguera. Further planned measures can be found below.
Over the next five years, Hapimag plans to invest in the holiday apartments at up to 15 resorts. At the same time, maintenance, repair and replacement measures are being carried out on an ongoing basis at all resorts.
Annual charge stable
Despite the crisis, Hapimag was determined to keep the annual charge stable for 2021. In euros it is currently below the level of 2015. Thanks to the discounts on the annual charges, Hapimag will pass on EUR 2.7 million to its shareholders and members.
However, Covid-19 also has an impact on resort investments, with the pandemic setting certain financial limits. In concrete terms, planned measures are being rescaled or implemented more efficiently. The primary focus is always on the holiday apartments, with the cost-benefit ratio being decisive. Of the 2021 annual charge, an average of 45% per shareholder will go towards renovations.
Focusing on the holiday apartments, we plan to continue to make targeted investments in our resorts this year in order to provide our guests with a high level of comfort.
Martin Roten, Chief Real Estate Officer
What renovations are planned?
Planned renovations and repairs include the following projects: Depending on the course of the corona pandemic, planned capital expenditure may be adjusted.
Major projects over several years:
In the last three years, the London resort has been completely renovated. After a challenging time with the general contractor and delays due to the corona pandemic, the official reopening is expected to take place on 19 March 2021. In this article, Resort Manager Francesca Torchiana tells us what new features guests can look forward to.
With regard to the major investments, the planning phase at the Paguera resort has been completed. We are now planning to start renovation work in Paguera. As part of this, the apartments will be extensively renovated. Where possible and appropriate, some of the existing furnishings will be renewed and reused – a sustainable type of renovation. Technical installations such as kitchen appliances, air conditioning and sanitary facilities will be completely replaced. In addition, the apartments will receive completely new bathrooms.
For the St. Michael resort, planning is being finalised for the renovation set to take place in 2022.
Smaller projects in 2021:
Refurbishment of the apartments in the Westerland Margarethenhof resort
Restoration measures: Completion of the phased balcony renovation at the Flims resort, renovation work on the underground car park at the Marbella resort, repair of roofs and chimneys at the Pentolina resort and renovation of roofs and facades at the Cannero resort
Smaller investments and acquisitions in 2021:
How will the annual charge for 2021 be used?
The annual charge will remain stable in 2021
Despite the crisis, we were committed to keeping the annual charge stable for 2021. In euros it is currently below the level of 2015. We cannot rule out the possibility that the annual charge will have to be increased again in the future. However, it is important for us not to place any additional financial burdens on our shareholders and members, especially during these difficult times.
The annual charge in Swiss francs for 2021 of CHF 339.00 is comparatively even significantly below the figure of CHF 372.60 from 2015. It is therefore CHF 33.60 (-9.0%) lower than five years ago. These reductions were necessary due to the currency situation in order to keep the annual charge for shareholders in the EU stable.
In euros the annual charge thus remains at EUR 311.67 and has decreased by EUR 2.28 (-0.7%) since 2015.
The graph below shows the change in the annual charge over the last six years.
Development of the annual charges
Discounts on annual charges
If you have three or more active shares, you will receive discounts on your annual charges.
This brings down the annual costs per share.
Three to four shares will earn a discount of 5%, five to six shares a discount of 10% and seven shares or more a discount of 15% on all annual charges.