Press releases

  • 10.08.2018 – Half-year results 2018: Hapimag enjoys continued success

    Steinhausen, 10 August 2018 – The Hapimag Group, headquartered in Steinhausen (in the canton of Zug), posted an operating result of EUR 8.3 million in the first half of 2018. This positive result is attributable to a rise in both occupancy and resort sales as well as the effect of cost-saving measures. Overall, sales increased by 10.5 % year-on-year.

    Higher occupancy in the resorts
    Occupancy in the around 60 Hapimag resorts rose in the first six months of this year to 71.8 % (previous year: 67.7 %). In total, 197,772 guests stayed at the resorts, an increase of 12.6 % on the previous year. This rise in occupancy is due, among other factors, to the growing number of ever more popular short breaks (city resorts +7.9 %) and the good snow condi ons (Alpine resorts +11.9 %).

    The number of guests in Swiss resorts grew by a total of 26 %. The Interlaken resort recorded a significant rise in bookings of 26.8 %. Occupancy rose from 59.3 % in the previous year to 75.2 % in 2018. The Damnoni resort in Crete and the Bad Gastein resort in Salzburg Province also gained in popularity, with occupancy increasing by 23.1 % and 21.9 % respectively.

    The highest occupancy between January and June 2018 was recorded by the resorts at Marbella on the Costa del Sol (93.7 %), Zell am See (93.1 %), Lisbon (92.9 %), Berlin Gendarmenmarkt (92.8 %) and Vienna (92.1 %). Since its reopening on 10 May 2018 following an 18-month renova on, the Porto Heli resort in Greece has already recorded occupancy of 81.5 %.

    Higher resort sales
    Resort sales grew 10.5 % year-on-year. Hassan Kadbi, CEO of Hapimag AG commented: “Our guests are increasingly making use of our services at the resorts. They are dining at the restaurants, booking tickets and excursions through us and buying their food in our shops. All of this has a positive impact on our sales.”

    Positive operating result
    At EUR 8.3 million, the Hapimag Group’s opera ng result in the first six months of the year is extremely posi ve (previous year: EUR 6.0 million). “The resorts are Hapimag’s core business. The good operating result is a result of the strong sales and higher occupancy in the resorts. In addition, we were able to lower administrative costs, which also had a positive impact on the operating result” , said Hassan Kadbi.

    Significant increase in capital expenditure
    Capital expenditure increased year-on-year from EUR 26 million to EUR 39.1 million. This was due to the renova on of the Porto Heli and London resorts, building of the new Cavallino resort on Italy’s Adria c coast close to Venice and construc on of the new headquarters in Steinhausen (canton of Zug).

    For more information, please contact:
    Baha Jamous
    Head of Corporate Communication
    +49 176 7077 6861
    press.notexisting@nodomain.comoffice@hapimag.notexisting@nodomain.comcom

    You will find pictures here: https://www.hapimag.com/en/what/about-us/media.html

    About Hapimag
    As a leading right-of-residence provider in Europe, Hapimag offers holidays in around 60 des na ons in 16 countries to roughly 130,000 shareholders and members. Since being founded in 1963, Hapimag’s business model has been based on one simple idea: invest jointly, use individually and sustainably. Membership is an economically a rac ve and ecologically sound alterna ve to owning your own holiday apartment. www.hapimag.com

  • 26.04.2018 – Results of the 54th ordinary Annual General Meeting of Hapimag AG

    Baar, 26 April 2018 – The Hapimag shareholders approved the annual accounts and consolidated financial statements for 2017 and the auditors’ reports at yesterday’s Annual General Meeting in Baar. Andreas Winiarski was elected to the Board of Directors to replace Hans Peter König. The Annual General Meeting approved the motion that a special audit be carried out. 378 shareholders attended the Hapimag Annual General Meeting with a total of 65,049 votes.

    Annual accounts and consolidated financial statements for 2017, auditors’ reports
    The shareholders approved the consolidated financial statements of the Hapimag Group, the annual accounts of the parent company Hapimag AG, and the auditors’ reports (64,25 %).

    “We finished 2017 with a consolidated result of EUR 11.1 million. This is Hapimag’s best annual result for over 15 years”, says CEO Hassan Kadbi.

    Resolution on the appropriation of the results of the 2017 annual accounts of Hapimag AG
    The shareholders agreed that Hapimag AG’s 2017 net profit of CHF 3,887,422 be allocated to voluntary retained earnings (64,32 %).

    Discharge of the members of the Board of Directors
    The shareholders approved the discharge of the members of the Board of Directors in relation to financial year 2017:

    • Discharge Dr.iur. Giatgen Peder Fontana (61,34 %)
    • Discharge Dr.iur. Stefan Schalch LL.M. (61,33 %)
    • Discharge Lic.oec. Hans Peter König (61,01 %)
    • Discharge Lic.rer.pol. Kurt Scholl (60,76 %)
    • Discharge Philipp Ries (61,19 %)


    Election of a replacement member of the Board of Directors

    The Annual General Meeting elected Andreas Winiarski (53,18 %) to the Board of Directors for a one-year term of office, to replace Hans Peter König. In electing Mr Winiarski, the Annual General Meeting voted in accordance with the proposal of the Board of Directors. Detailed CVs of all members of the Board of Directors can be found here.

    Dr. Giatgen Peder Fontana, President of the Board of Directors, said in relation to Mr Winiarski’s election: “With Andreas Winiarski’s appointment, Hapimag is gaining one of the most distinguished communicators operating in Europe and a proven expert in digitisation. I am very much looking forward to our joint work in the Board of Directors.”

    Election of the auditors
    The shareholders confirmed the appointment of KPMG AG as auditors for 2018 (61,05 %).

    Amendment of the Articles of Association – relocation of head office
    The shareholders approved the proposal to move the head office of Hapimag AG from Baar to Steinhausen (93,36 %).

    Other amendments to the Articles of Association proposed by the Board of Directors
    The shareholders approved all amendments to the Articles of Association proposed by the Board of Directors:

    • Creation of an audit advisory board as a body (63,50 %)
    • Election of the President of the Board of Directors by the Annual General Meeting (95,81 %)
    • Term and re-election limits for members of the Board of Directors (65,35 %)
    • Change to the wording of Article 24 (92,84 %)


    Amendments to the Articles of Association proposed by shareholder associations
    The amendments to the Articles of Association proposed by shareholder associations were treated differently by the Annual General Meeting:

    • Rejected – Amendment of the Company’s purpose (41 % approval)
    • Rejected – Information to shareholders regarding products and general terms and conditions (48,57 % approval)
    • Approved – Transfer of shares under the same terms as the original purchase (50,27 % approval)
    • Rejected – Amendment to the content and publication of the minutes of the Annual General Meeting (49,90 % approval)
    • Rejected – Re-election and term limits for members of the Board of Directors (47,77 % approval)
    • Approved – Re-election limits for the auditors (50,30 % approval)


    Special audit
    The motions to conduct a special audit were treated differently by the Annual General Meeting. While the motion regarding the previously announced questions that had been communicated to all shareholders was approved (53,69 %), the special audit for the questions that were submitted later was rejected by the Annual General Meeting.

    Dr. Stefan Schalch, Vice President of the Board of Directors, said in this regard: “I regret that a majority of our shareholders voted in favour of a partial special audit. If an audit is conducted, this will be a lengthy and expensive process, to the detriment of our shareholders. I also doubt that it will be of any real benefit. Nevertheless, the General Meeting has reached a decision, and we will of course do all we can to resolve the matter swiftly and professionally. We will also keep an eye on the significant minority of shareholders who voted against the special audit. I explicitly approve the rejection of the special audit for the questions submitted later.”

    Dr. Giatgen Peder Fontana, President of the Board of Directors, closed the Annual General Meeting after almost 8 hours. He thanked those in attendance for their many constructive thought-provoking contributions, which he appreciated as a sign of active shareholder engagement with the company.

     

    You can find detailed results of the votes at the 54th ordinary Annual General Meeting here: www.hapimag.com/vote
    You will find pictures here: www.hapimag.com/media
    The 2017 Annual Report is available at www.hapimag.com/about-us

     

    For more information, please contact:
    Baha Jamous
    Head of Corporate Communication
    +49 176 7077 6861
    press.notexisting@nodomain.comoffice@hapimag.notexisting@nodomain.comcom

     

    About Hapimag
    As a leading right-of-residence provider in Europe, Hapimag offers holidays in around 60 destinations in 16 countries to roughly 130,000 shareholders and members. Since being founded in 1963, Hapimag’s business model has been based on one simple idea: invest jointly, use individually and sustainably. Membership is an economically attractive and ecologically sound alternative to owning your own holiday apartment. www.hapimag.com

  • 15 March 2018 – Hapimag posts largest annual profit for over 15 years

    Baar, 15 March 2018 – The Hapimag Group, headquartered in Baar (in the canton of Zug), posted consolidated profit of EUR 11.1 million in 2017. This is Hapimag’s best annual result for over 15 years. The operating result of EUR 12.9 million is also pleasing. The measures initiated by Hassan Kadbi, who became CEO in November 2016 – focus on the company’s core business and rigorous process and cost optimisation – as well as increased revenues at the resorts had a positive impact on the result. The high equity ratio of 47 % and a proportion of internal operating resources of 84 % continue to keep Hapimag on a sound financial footing.

    Hapimag’s consolidated annual accounts for 2017 show a result of EUR 11.1 million (previous year: EUR 0.3 million). The operating result increased from EUR 8.5 million to EUR 12.9 million. At EUR 176.6 million, Hapimag’s operating income was down EUR 12.2 million compared to the previous year (EUR 188.8 million). On the other hand, operating expenses fell EUR 16.6 million to EUR 163.7 million (previous year: EUR 180.3 million).

    Pleasing revenues increases at the resorts
    The Hapimag resorts made a significant contribution to the improved operating performance. Total revenues at the resorts increased by 2.5 % to EUR 86.4 million compared to the previous year. Resort occupancy increased to 71.8 % (previous year: 68.1 %). The number of guests at the resorts rose to 382,153 (previous year: 373,200), an increase of 2.4 %. The average length of stay decreased to 7.04  days (previous year: 7.25 days), reflecting the trend for more frequent, shorter trips. 

    Rigorous cost optimisation

    As a result of the company’s revised strategy and aim of focussing on its core business, expenditure on marketing was significantly reduced. Operating costs in Information Technology and payroll costs at the company’s headquarters were also cut.

    Focus on shareholders and members
    The company is renewing its focus on the needs of its shareholders and members. “We are delighted that we haven’t had to compromise on the quality of our services despite this cost optimisation. We again received 17 HolidayCheck Awards thanks to good ratings from guests,” says Hassan Kadbi, who has been Hapimag’s CEO since November 2016. “What’s more, the Albufeira, Ascona and Scerne di Pineto resorts even received the Gold Award. That is something of which I am very proud.” Guest satisfaction was very high at 84.5 % (an 0.5 % increase over the previous year).

    Financing of new buildings and renovations


    Investments in 2017 amounted to EUR 62.2 million (previous year: EUR 20.8 million). This figure includes expenditure on the two new buildings in Cavallino and Steinhausen and the renovation of the London, La Madrague and Porto Heli resorts. The renovations accounted for expenditure of EUR 25.6 million in the year under review (previous year: EUR 12.5 million).

    As a result of the partial financing of the new resort in Cavallino and the new administration building in Steinhausen, free cash flow fell to EUR –27.8 million (previous year: EUR +13.6 million), with liquidity (net external funding) dropping to EUR –7.4 million (previous year: net surplus of EUR +20.5 million).

    Sound financial position thanks to high equity ratio
    The high equity ratio of 47 % (previous year: 45 %) and a proportion of internal operating resources of 84 % (previous year: 87 %) continue to keep Hapimag on a sound financial footing.

    Since 2017 the consolidated annual accounts have been prepared in accordance with Swiss GAAP FER (SGF). The previous year’s data was also adjusted in accordance with the new accounting method. The figures for 2015 were prepared in accordance with the accounting method used previously (IFRS).
    Since 2017 the consolidated annual accounts have been prepared in accordance with Swiss GAAP FER (SGF). The previous year’s data was also adjusted in accordance with the new accounting method. The figures for 2015 were prepared in accordance with the accounting method used previously (IFRS).

    You will find pictures here: www.hapimag.com/media
    You will find the video with Hassan Kadbi, CEO of Hapimag, here:
    https://vimeo.com/hapimag/review/259854672/c4d81101e6

    The Annual Report 2017 will be available from 23 March 2018 at www.hapimag.com/media.

    About Hapimag
    As a leading right-of-residence provider in Europe, Hapimag offers holidays in around 60 destinations in 16 countries to roughly 130,000 shareholders and members. Since being founded in 1963, Hapimag’s business model has been based on one simple idea: invest jointly, use individually and sustainably. Membership is an economically attractive and ecologically sound alternative to owning your own holiday apartment.
    www.hapimag.com

  • 22.09.2017 – Dresden’s Neumarkt area is home to Saxony’s happiest guests
    In Dresden, Hapimag offers modern comfort within historic walls.
    In Dresden, Hapimag offers modern comfort within historic walls.
    Susann Zimmer has a unique connection with every single guest

    38-year-old Susann Zimmer and her team of eight know the true meaning of hospitality. The Swiss company Hapimag has lovingly reconstructed the former British Hotel in Dresden’s Neumarkt quarter. Since 2010, German, Dutch, Swiss, Austrian and Italian visitors have enjoyed the comforts of the 38 modern holiday apartments hidden behind the historic Baroque façade. Occupancy is around 78 % – more than 26 % higher than the average occupancy rate in Dresden. Resort Manager Susann Zimmer has been there since the start and takes a very personal interest in the development of “her” resort. The hotel has just been chosen as “Guests’ Favourite 2017” by the Landestourismusverband Sachsen e.V. (Saxony State Tourist Board).

    he Free State of Saxony is a popular tourist destination for visitors from many countries. In the past 25 years, the number of travellers, as well as the amount of overnight accommodation, has tripled. Every year, more than 18 million guests come to Saxony. Dr. Detlef Hamann, Vice President for the Landestourismusverband Sachsen e.V. (LTV), is delighted about this. “Holiday makers have never been so happy. Saxony is the only East German state that scores above the country average.” The bar for visitor satisfaction therefore has been set high and should remain so. With this in mind, LTV has just held their second competition for “Guests’ Favourite”. The idea behind this is to set standards, present models, and encourage emulation. In 2017, 543 properties applied to become “Guests’ Favourite”, eight of which reached the final. 250 online platforms were used to assess services offered, handling of feedback and overall impression (TrustScore). The Hapimag Resort Dresden achieved the highest score in all three fields. Services and staff friendliness achieved a full 100 out of a possible 100 points! Active work on feedback was rewarded with an above-average 88 points. For TrustScore’s overall impression, guests awarded 97 out of 100 possible points. Facilities, atmosphere, staff, location – all must be right!

    Susann Zimmer is delighted to be named “Guests’ Favourite 2017“.
    Susann Zimmer is delighted to be named “Guests’ Favourite 2017“.
    Pioneer with a homely touch

    When, following the recommendation of a friend, Susann Zimmer applied to Swiss company Hapimag to become a Resort Manager more than seven years ago, she had no knowledge of the Hapimag concept. She didn’t yet know that in 1963, the company was a pioneer in the tourist time-share economy, and that in the meantime, 130,000 shareholders and members have Hapimag holiday occupancy rights. The business model is based on a very simple idea: invest in holidays together and use them individually on a long-term basis. Susann Zimmer was persuaded by the economically attractive and ecologically sound alternative to a private holiday apartment and so moved from a five-star hotel in Dresden to Hapimag. She has not regretted her decision: “Hapimag may be a large organisation, but it has a very homely approach. With Hapimag, the guests know what to expect in the around 60 resorts located in 16 different countries. They will find the same high standard and will feel instantly at home. It may be a resort, but it is one that tailors to the individual tastes of each guest.”

    Above average bookings from the start

    From the very beginning, interest in the Hapimag Resort Dresden was very high. This heralded in a boom. In the last few years, occupancy has dropped slightly since Hapimag opened other very attractive City Resorts in Lisbon and Hamburg. However, occupancy in Dresden is still about 11 % above the Hapimag average of 67.7 %. Despite these good figures, Susann Zimmer is not resting on her laurels. A while ago, guest feedback suggested that there was potential for greater child-friendly orientation. Susann Zimmer and her team conjured up a “Magic Moment” and thereby won Hapimag’s internal prize for the best welcome packet for children; adapted seasonally for both girls and boys, soap bubbles and art equipment are always included.

    Modern comfort for the best time of the year: Hapimag spoils its guests.
    Modern comfort for the best time of the year: Hapimag spoils its guests.
    VIP Tickets, Honesty Bar and Italian

    Regular contact with the guests is the lifeblood of the resort for her and her team. Already prior to arrival, they correspond with the guests who are able to order their rolls, bikes or tickets for the Semperoper in advance. Most visitors rave about the central location with a view of Dresden’s Frauenkirche and the impressive combination of the building’s historic exterior together with its modern interior. The so-called Honesty Bar is also very popular. Here, guests can select whatever they want to go with their breakfast rolls. They just note down what they have taken and pay for it at the end of their stay. “We supply whatever the guests require,” says the prize-winning Resort Manager. “We pick up reserved tickets at the Semperoper for them or find ingenious ways to acquire whatever tickets they want.” Thus, Susann Zimmer was able to make a couple from Kaiserslautern very happy by obtaining VIP tickets for a concert by their favourite musician, Josef Liefers – despite the fact that the concert was sold out. This very successful birthday present for the husband is a shining example of how “we anticipate our guests wishes”. However, Susann Zimmer also takes the improvement of mundane, daily quality very seriously. The cleanliness of every flat is checked once more after the housekeeper has given it the okay. Regular guests are especially pleased by special little touches, such as flowers or pralines. In addition, so that that guests from Italy can converse in their mother tongue, Susann Zimmer and her team are currently learning Italian. Overall, teamwork is everything here. “I am proud of my colleagues – without such a great team, there would have been no award.”

    Susann Zimmer tries to make her Hapimag guests feel as much at home as possible. She has the appropriate infrastructure for this: modern holiday apartments with flat screen televisions, kitchen, WLAN access, a central location in the middle of the old town, top quality service and friendly staff, as well as a launderette and bicycle storage. Results: the guests feel very comfortable here.

    At home in Dresden

    Susann Zimmer herself feels more than happy in Dresden. When relaxing – walking in the nearby Elbwiesen park (the biggest green area within the city), diving into foreign worlds in an historic setting at the Open Air Film nights, or tracking down the latest trends in the chic neighbourhood of Neustadt on the other side of the Elbwiesen – she appreciates the friendliness of the people and the stunning nature. Outside the city there are also numerous attractions. Many guests ride along the Elberadweg (Elbe cycle path) with a Hapimag bicycle or their own machines, admire the porcelain stronghold of Meissen, visit small vineyards in Radebeul or enjoy the natural beauty of the Dinosaur Park in Kleinwelka with their children.

    Sandstone facade in the baroque style: Faithfully reconstructed to be true to the original.
    Sandstone facade in the baroque style: Faithfully reconstructed to be true to the original.
    Historically valuable and worth protecting

    Historically valuable – Dresden deserves this title. The cultural and artistic city of Dresden is internationally recognised and was a UNESCO World Cultural Heritage site from 2004 to 2009. 50 museums, more than 35 theatres and small performance spaces, the opera house, Frauenkirche and other famous buildings from various epochs, as well as major events make Dresden an historical place. In amongst all this is Hapimag. The resort is situated very centrally. This wasn’t always the case. In the Middle Ages, this area lay in front of the city gates. Where the Neumarkt quarter is today, there was originally a lake, the “See vor dem Frauentor”. By 1350, this had gradually silted up. It was only in 1550 that the residential centre relocated to the Neumarkt area – which later became the heart of Dresden baroque. This includes the Palais Beichlingen, which was bought in 1752 by Rachel Louise Gräfin von Werthern for 16,000 Reichstaler. In the 19th century it became the British Hotel. After a chequered history, the building was completely destroyed by a bomb in 1945. Fragments of the façade remained and these served as templates for an exact reconstruction. The original vaulted cellar, which was undamaged, was retained. The restoration of the Neumarkt area is now almost complete. Hapimag CEO, Hassan Kadbi, asserts how lucky the Swiss company considers itself to have been able to work with the City of Dresden and make a contribution to this ambitious project. “Hapimag has also restored or reconstructed valuable objects in Prague, London, Tonda and Pentolina in Tuscany. We take the upkeep and utilisation of historically important buildings very seriously.”

    Online customisation

    Hapimag also recognises the importance of online communication. Development of this is a focal point for the 38-year-old CEO, who has been running Hapimag since November 2016, and has implemented the new company strategy with great energy and success. He is delighted with Susann Zimmer. She keeps up-to-date with guest comments online as well; every week she dedicates one or two hours of her time to reply to online reviews. “Already 65% of our guests book online. Therefore, careful handling of feedback is absolutely essential,” the Resort Manager believes. “Every guest comment deserves an answer. For us, there is no question of ‘copying and pasting’. Every guest is treated individually with the highest respect and should feel at home with us.” LTV Vice President, Dr. Hamann, thinks she is on the right course with this policy: “Only those who further invest in ideas, quality and guest satisfaction, invest in the future.”

    As the leading provider of timeshares in Europe, HAPIMAG enables its approximately 130,00 shareholders and members to holiday in 60 destinations across 16 countries. Since its founding in 1963, the business model has been based on a simple idea: joint purchasing for individual and long-lasting use. A membership is an economically attractive and ecologically sensible alternative to owning your own holiday apartment.

    Press material at Dropbox

  • 31.07.2017 – First half of 2017 marked with satisfying operating results, higher occupancy
    Hapimag: CEO Hassan Kadbi puts company on track

    Hapimag is growing: occupancy rates at the 60 or so resorts in 16 countries and shareholder, member, and guest satisfaction have increased in the first half of 2017. Short-term stays in cities, including London and Edinburgh, have increased by 6.5%. Hapimag’s cost reduction measures have also had an effect, resulting in a satisfying €6m in operating income for the first six months of the year.

    CEO Hassan Kadbi has put Hapimag on the path to success. The 38-year-old native of Lebanon, who speaks Arabic, English, Greek, and German, has a degree in international hospitality and tourism management and has been with Hapimag for 12 years. He took over the reins of the leading provider of rights of residence in Europe in November 2016. In the first half of 2017, he has already been able to focus the company’s efforts on implementing the new strategy.

    Higher occupancy and more guests in city locations
    ompared to the same period the previous year, occupancy in the ca. 60 resorts for the first six months of 2017 climbed 3.4% to 67.7% or 176,000 guests, which corresponds to last year’s figures. The increase in the number of bookings is partly due to a greater number of short stays in city locations. The city resorts have seen a 6.5% increase in the total number of guests. The Hapimag Resort Edinburgh has been one of the most popular city destinations in summer 2017 and puts guests in the lap of Victorian-era luxury. The listed London townhouse is another preferred destination for Hapimag guests. It lies directly on Hyde Park and will once again reopen its doors in 2018 after a total renovation.

    Considerable year-over-year growth has also been posted by Resort Winterberg in Germany (+25%) and the Swiss alpine resort of Interlaken (+14%). Seaside resorts Damnoni on Crete and Albufeira in the Algarve have also become more popular destinations. Between January and June 2017, Marbella on the Costa del Sol, San Agustìn on Gran Canaria, Berlin Gendarmenmarkt, and the Resort Zell am See in the province of Salzburg have posted the highest occupancy rates in the group, each hovering around 90%.

    Satisfying operating result of €6.0 million in the first half of 2017
    Resort revenues have grown 2%. CEO Hassan Kadbi explains: “What makes us happy is that our guests are increasingly visiting our in-house dining options, making use of our wellness, sporting, and excursion offering, and taking advantage of the various other services we offer. In addition to the comfortable apartments, our guests also appreciate our on-site services.” Since the resorts are the core business of Hapimag, these positive results have had an impact on the overall financial result. In addition, the cost reduction measures, which primarily affect the structures and processes at the headquarters in Baar, are also making an impact. The €6m operating result of the Hapimag Group in the first half year of 2017 is a satisfying start to Hassan Kadbi’s time in office.

    Intensive dialogue with shareholders and members
    Hapimag currently has 110,000 shareholders and 20,000 members. Under the direction of Board Chair Dr Giatgen Peder Fontana and CEO Hassan Kadbi, Hapimag is putting its full attention to serving their needs and wishes. For this reason, the new CEO blog has been introduced. Hassan Kadbi is enthusiastic about the willingness of shareholders and members to express their opinions on individual topics and to engage in dialogue with him and among themselves. The intensified exchange is meeting a great need. The company is also strengthening its offline dialogue with shareholders, members, and guests, for example, by holding regional meetings. In some of the resorts, a Hapimag consultant is currently available to guests to answer questions, receive suggestions, and engage in dialogue about the Hapimag concept. Issues such as transferring shares to one’s heirs, purchasing additional shares, and acquiring new shareholders are of special interest. A large share of the guests in the resorts are young families and couples. Many of these are not yet shareholders or members, but are instead using the residence points of their parents, grandparents, or friends. Hapimag is now focusing on recruiting these guests as new shareholders and members. This and other activities have led to the sale of some 750 additional shares over the past months.

    Concentration on the core product
    The growing demand for new shares has also confirmed the strategy to focus again on the sale of shares, the core product. This takes into account the desire of the Hapimag community for a simpler product range. The Hapimag share is not the same as a share in a company such as may be traded on a stock exchange. Rather, it is a right to use holiday apartments at preferred locations in 16 countries. Dirk Schiffner was appointed new Chief Commercial Officer in May 2017. He will use his international experience to work actively in recruiting new customers.

    Hospitality as a profession
    CEO Hassan Kadbi puts the satisfaction of the guests at the centre of all that Hapimag does. Hassan Kadbi has been professionally involved in the hospitality industry since the age of 17, when he took his first job in Beirut. He then completed a degree in international hospitality and tourism management and has worked in Lebanon, Greece, Cyprus, and the United Kingdom. He has also implemented several projects in Asia. Twelve years ago, he joined Hapimag, first as Resort Manager of the Hapimag Resort Bodrum in Turkey, the company’s largest resort. After several years, he was named Area Manager for Greece, Turkey, and the Resort Marrakesh in Morocco. In 2013, he assumed the position of Chief Resorts Officer with operational responsibility for all Hapimag resorts. In early November 2016, the Board of Directors appointed Hassan Kadbi as CEO of Hapimag AG.

    As the leading provider of holiday rights of residence in Europe, Hapimag enables its approximately 130,000 shareholders and members to holiday in 60 destinations across 16 countries. Since its founding in 1963, the business model has been based on a simple idea: joining forces to purchase property for individual use for years to come. Membership is an economically attractive and ecologically sensible alternative to owning one’s own holiday apartment.

    Press material

  • 07.06.2017 – Dream summer holidays: Spain, Portugal and Greece
    60 percent of HAPIMAG guests will spend their 2017 holiday by the sea

    Of HAPIMAG's 13 beach resorts, Paguera on Mallorca, Albufeira in Portugal and Damnoni on Crete are the resorts that are most in demand this year. Binz on Rugia has recorded almost as many visitors as Damnoni. In June and August 2017, 60 percent of all HAPIMAG bookings were for resorts by the sea. 40 percent of guests chose a city break, holidays in spectacular landscape such as Tuscany, Ticino and Provence, or a holiday the Alps. Here they have the choice of a further 38 destinations in the best locations and of Swiss standard.

    As early as 2016, the approximately 130,000 shareholders and members of HAPIMAG chose destinations in Spain and Portugal more often than in the previous year. This trend is continuing in the summer months of 2017. According to the latest bookings figures, Paguera on Mallorca is the most popular resort among the 13 beach resorts that HAPIMAG has to offer. Paguera is the pearl of the Spanish island of Mallorca. The HAPIMAG resort is built in a traditional Mallorcan style and is located in a bay directly by the sea, with a sandy beach in front of a picturesque rocky coast, surrounded by pine trees and romantic mountain villages.

    Spain is one of the most popular destinations in Europe. According to a study by the "Forschungsgemeinschaft Urlaub und Reisen" (Research Community for Vacation and Travel), the popularity of Spanish destinations grew by 10 percent in 2016. In addition to Paguera, HAPIMAG offers its guests five exceptional resorts in good locations in Spain: Marbella on the Costa del Sol, Mas Nou on the Costa Brava, Puerto de la Cruz on Tenerife and San Agustín on Gran Canaria

    Albufeira in Moorish style

    After Paguera, Albufeira on the Portuguese Algarve coast is the most popular beach destination for HAPIMAG guests. In 2016 the resort was awarded a gold medal by the review platform HolidayCheck. The "holiday oscar" was awarded because the HAPIMAG resort in Albufeira had already won the HolidayCheck Award five times in a row.

    The apartments are located in a nature reserve with access to secluded bays. The Moorish-style holiday complex of Albufeira is ideally located to experience the real Portugal. Impressive cliffs are alternated with romantic coves and while parents can work on their technique at the nearby golf course, children can play pirates in the tree house. A sailing trip off the wild Atlantic coast or a dive into the underwater world filled with diverse species reveals the true nature of the Algarve. In addition to the beach resort, HAPIMAG guests in Portugal can head to the new city resort in Lisbon. It is located parallel to the Avenida da Liberdade, the "Champs-Elysées" of Lisbon.

    Damnoni - the family paradise

    Greece is still very popular with the HAPIMAG guests. Damnoni on the island of Crete is HAPIMAG's third most popular beach destination. The small, picturesque bay of Damnoni is located between two mountains on the southern coast of Crete. The resort is built in the style of an amphitheatre and features an outdoor swimming pool, an indoor swimming pool, a football pitch, a tennis court, an adventure playground, two restaurants and a bar. Thanks to the wide range of activities for all ages, the HAPIMAG resort is particularly suited to families. Snorkelling, water skiing, catamaran sailing, diving, surfing and much more are on offer at its own water sports facility. Hiking in the Kollita gorge or walking by the stream, through the olive groves and on to the old mill in nearby Plakias are also tempting pastimes. Children in particular love the the mini-zoo and donkey rides on offer.

    Greece is experiencing an overall tourism boom. 30 million visitors are expected during 2017, this is two million more than last year. HAPIMAG guests can choose from three resorts in Greece. As well as Damnoni there is also Athens with a HAPIMAG resort in the centre of the old town. HAPIMAG shareholders and members can enjoy a fantastic view of the Acropolis from the roof terrace. On the Greek peninsula of Peloponnese lies the dreamlike Porto Heli in a secluded bay; The HAPIMAG resort is currently being renovated and will open again in 2018.

    The Baltic Sea and the North Sea

    Germany's Baltic Sea and North Sea destinations are also very attractive to travellers. This summer almost as many HAPIMAG guests are spending their summer in Binz on Rugia as are in Damnoni on Crete. Even more are enjoying a holiday on the North Sea island of Sylt. The four HAPIMAG resorts of Hörnum, Westerland Aalborg, Westerland Dünenblick and Westerland Margarethenhof have almost as many bookings as Paguera on Mallorca.

    Individualists and Swiss standard

    HAPIMAG has been the ideal holiday experience for individualists looking for exclusive and spectacular locations for over 50 years. They always enjoy our reliable Swiss standard in the best company. The apartments are in the local style and the security and services on site guarantee a lasting and enjoyable holiday. The emotional and financial participation of customers in "their HAPIMAG" forms the basis for intergenerational development. It secures the excellent quality standard in the long term. 

    As the leading provider of timeshares in Europe, HAPIMAG enables its approximately 130,00 shareholders and members to holiday in 60 destinations across 16 countries. Since its founding in 1963, the business model has been based on a simple idea: joint purchasing for individual and long-lasting use. A membership is an economically attractive and ecologically sensible alternative to owning your own holiday apartment.

    Press material at Dropbox

  • 53rd Hapimag Annual General Meeting in Baar: Google manager joins BoD
    New beach resort near Venice, more comfort for London

    At yesterday’s 53rd Annual General Meeting of Hapimag, Europe’s leading provider of rights of residence, Philipp Ries, Industry Travel Leader at Google Switzerland AG, was elected to the Board of Directors. The 42-year-old brings with him specific expertise in new media. The focus on online communication and online marketing is also being pursued by Hassan Kadbi, who became the CEO of Hapimag in November 2016. The response to the new city resorts in Hamburg and Lisbon has been outstanding. In 2016, 17 resorts received the prestigious “Holiday Oscar”, with the Albufeira resort in Portugal even awarded a Gold Medal. The work on the new Cavallino beach resort close to Venice is progressing according to plan. Summer saw the start of the renovations on Hapimag’s listed resort in London.

    At this year’s Annual General Meeting of Hapimag, Dr Giatgen Peder Fontana, the President of the Board of Directors, again welcomed some 500 shareholders and guests to Baar. They had travelled from Switzerland, Austria, Germany, the Netherlands and Italy to help decide the future of “their” Hapimag.

    Right-of-residence products transferred to family members

    In his speech, Dr Giatgen Peder Fontana, who ran Mobility for many years prior to his position at Hapimag, emphasised that Hapimag would be focusing even more strongly on its core business. In particular, the changing needs of those born after 1980 would require a great deal of attention. He explained: “A crucial factor for the future of the Hapimag business model is not only to lead the generation of millennials to use the resorts, but also to convince them of the concept of part-ownership; this is because new shareholders will create the financial basis for new investments.” Hapimag is already successfully attracting the children and grandchildren of its shareholders and members, as evidenced by the Hapimag right-of-residence products which have been transferred to family members in recent years – with 4,500 right-of-residence products in 2016 alone.

    Expert in new media on the Board of Directors

    New media play a decisive role in the holiday market and, in particular, in attracting millennials. Dr Giatgen Peder Fontana is therefore delighted with Philipp Ries’ election to the Board of Directors. As the Industry Travel Leader at Google Switzerland, the 42-year-old will contribute solid and up-to-date specialist knowledge in the area of new media to Hapimag. Before joining Google, this Swiss national worked for Hewlett-Packard International. He has many years of experience in the SME field and possesses in-depth knowledge of new technologies and digital marketing. Philipp Ries has a Master’s degree in Computer Science & Economics from the University of Zurich and completed the Stanford Executive Program at the Stanford University Graduate School of Business NDS.

    Online communication for the next generation

    38-year-old Hassan Kadbi, Hapimag’s CEO since November 2016, is enthusiastically committed to the needs and concerns of shareholders and members. His focus is on online communication, particularly with the next generation in mind. In the new CEO blog, for example, he will invite shareholders and members to discuss a particular subject once a month. Other focal points, according to Mr Kadbi, are simplified structures and processes as well as greater decision-making powers for employees. This approach should have the major benefit of reducing costs. He believes that the satisfaction of guests needs to lie at the heart of all Hapimag’s activities. Mr Kadbi, born in Lebanon, who speaks Arabic, English, Greek and German, discovered his sense of hospitality from a young age.

    Hospitality as a career

    The idea of a career in hospitality has interested Mr Kadbi since he was 17 years old. At that time, he started his first job in the hospitality industry in Beirut. He completed his studies in International Hospitality and Tourism Management and worked in Lebanon, Greece, Cyprus and the United Kingdom. He has also implemented a number of projects in Asia. Twelve years ago he joined Hapimag. He began as a Resort Manager at Hapimag’s Bodrum resort in Turkey, the largest resort. A few years later, he became an Area Manager with responsibility for Greece, Turkey and Morocco. In 2013, he assumed the position of Chief Resorts Officer and had operational responsibility for all Hapimag’s resorts. In early November 2016, the Board of Directors of Hapimag appointed Hassan Kadbi as the CEO of the 1,400-strong Hapimag Group.

    17 Holiday Oscars and a Gold Medal for Hapimag

    The satisfaction of Hapimag’s shareholders and members is demonstrated by the results of an external survey in Germany and Switzerland. Some 83% of people who had spent their holidays with Hapimag in 2016 felt that the holiday apartments were of a high standard. This is also proven by the 17 “Holiday Oscars” received by Hapimag resorts in 2016 from the assessment platform HolidayCheck. The Albufeira resort in Portugal was decorated for the fifth time already and therefore won a Gold Medal. The jury of the European Business Award also selected Hapimag as National Champion 2016/2017 in the Customer Focus category.

    To ensure that the level of satisfaction among guests remains high, Hapimag is focusing on the high quality of its standard and offers. Going counter to an increasing trend in international tourism for renting real estate, Hapimag owns all its resorts. In 2016 alone, EUR 19.1 million went on renovations; for repairs and maintenance Hapimag spent EUR 5.6 million in 2016.

    Investment in city resorts: Hamburg, Lisbon, London

    Hapimag is successfully capitalising on the trend towards exciting city breaks. While the Kanzelhöhe, Chamonix, Hok-Yxenhaga and Bad Kleinkirchheim resorts were sold, the new city resorts in Hamburg and Lisbon are enjoying huge popularity. The high occupancy rates in 2016 bear witness to this. Both resorts are in central locations and offer above-average apartment sizes compared to other providers.

    From July 2017, another of Hapimag’s city resorts will be renovated, this time London. The apartments will be made more comfortable. The infrastructure will also be redesigned. Showtime for Hapimag’s resort in London is scheduled for summer 2018.

    Cavallino beach resort near Venice

    For 2018, the shareholders and members of Hapimag can also look forward to the very attractive destination Cavallino close to Venice, right by the sea. The start of the construction work was in autumn 2016. Anyone interested can follow the progress of the construction via webcam at hapimag.com/cavallino. The resort will include 125 holiday apartments. At the heart of it lies a small wellness area as well as a trattoria and a shop with an Italian gelateria. Cavallino is scheduled to open in summer 2018.

    Conversions on the Peloponnese peninsula and in Provence

    Many shareholders and members have fond memories of blissful seaside holidays in Hapimag’s Porto Heli resort. However, the resort – on a small peninsula in a secluded cove – is currently closed and undergoing renovations. The public areas and the apartments are being redesigned to ensure even more holiday enjoyment. The shareholders and members are already excited about the opening of this very popular resort in 2018.

    Hapimag Resort La Madrague, not far from Marseille, embodies the charm of Provence. Now that the apartments have been renovated, part of the outdoor area is being redesigned. A cosy bistro, “Le Cabanon”, is also being created in the style of Provence. The redesigned area is expected to be available for usage in the second half of 2017.

    Growth in occupancy rates in Portugal and Spain

    Despite a difficult year for tourism as a whole, the Hapimag resorts achieved an occupancy level of 68.1% on average in 2016, only slightly down on the previous year’s figure of 68.7%. Occupancy at the Hapimag resorts in Bodrum, Paris and Marrakech, in particular, fell below that of the previous year. On the other hand, occupancy increased at the resorts in Spain and Portugal.

    As the leading right-of-residence provider in Europe, Hapimag offers holidays in 60 destinations in 16 countries to its approximately 130,000 shareholders and members. Since its foundation in 1963, Hapimag’s business model has been based on one simple idea: invest jointly to use individually and sustainably. Membership is an economically attractive and ecologically sound alternative to owning your own holiday apartment.

    Photos at Dropbox

  • 05.04.2017 – annual results 2016
    Hapimag: focus on core business

    In 2016 the Hapimag Group, with its headquarters in Baar (Zug, Switzerland), generated an operating result of EUR 9.0 million. In total, 4500 Hapimag right-of-residence products were transferred to the next generation, and 17 Hapimag resorts won a HolidayCheck award.

    The Hapimag Group closed the year with an operating result of EUR 9.0 million (previous year: EUR 4.3 million). After deduction of the financial result and income taxes, the consolidated result was EUR 0.8 million (previous year: EUR 3.0 million). The financial result and income taxes can be attributed to the sale of the Hapimag Resorts Chamonix (FR) and Hok-Yxenhaga (SE). The falling occupancy rate of these two locations and their unprofitable structures had weighed on the performance of the Group in recent years. Free cash flow increased to EUR 13.6 million in 2016 (previous year: EUR –2.0 million), the level of equity capitalisation to 86.0 % (previous year: 82.2 %) and the equity ratio to 44.0 % (previous year: 43.0 %). Hapimag also invested EUR 19.1 million in the renewal and renovation of real estate.

    Start of building work on new resort

    The resort portfolio continues to expand. In 2016 construction work started on the new Hapimag Resort Cavallino, near Venice, which is located right by the sea. The opening is planned for summer 2018. The initial construction work on the resort was financed with the proceeds from the resorts that were sold. A bank loan was also taken out. Construction also started on the new group head office in Steinhausen in 2016, which is likewise being financed in advance by a bank loan. This step enables Hapimag to cancel its lease and benefit from today's advantageous interest rate conditions.

    At 68.1 %, resort occupancy in 2016 was slightly below the previous year’s figure of 68.7 %. Occupancy at the Hapimag Resorts Bodrum, Paris and Marrakech in particular fell below that of the previous year as a result of unrest and terrorist attacks. On the other hand, occupancy increased at the resorts in Spain and Portugal.

    Focus on shareholders and members

    Hassan Kadbi was appointed the company’s new CEO at the beginning of November. Together with his employees, he plans to focus increasingly on the needs of Hapimag shareholders and members in future. Hapimag once again reported a high level of customer satisfaction in the resorts in 2016. 17 Hapimag resorts received the coveted “Holiday Oscar” from the HolidayCheck review platform on the basis of guest feedback (previous year: 16 resorts), and the jury of the European Business Award selected Hapimag as National Champion 2016/2017 in the Customer Focus category. In addition, last year 4500 Hapimag right-of-residence products were transferred to friends and family members, i.e. the next generation.

    As a leading right-of-residence provider in Europe, Hapimag offers holidays in 60 destinations in 16 countries to its roughly 130 000 shareholders and members. Since its foundation in 1963, Hapimag’s business model has been based on one simple idea: invest jointly, to use individually and sustainably. Membership is an economically attractive and ecologically sound alternative to owning your own holiday apartment.

    Photos can be found at Dropbox

Media contact

Baha Jamous
Chief Marketing Officer / Mediensprecher
+41 (41) 7 67 82 02
press.notexisting@nodomain.comoffice@hapimag.notexisting@nodomain.comcom