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Introduction Corporate Profile CDL Hotels New Zealand Limited was incorporated in 1985 and has been listed on the New Zea-land Stock Exchange since 1985 The principal activities of the group are Ownership and operation of hotels in New Zealand Land acquisition and development in New Zealand Ownership and operation of shopping centres and a marina in Austraia It has a portfolio of 28 hotels which are owned leased franchised andor managed with approxi-mately 3500 rooms in 15 locations in Australasia It is the largest owner-operator of Hotels in New Zealand and through its subsidiaries CDL Investments New Zealand Limited and Kingsgate Inter-national Corporation Limited it also has extensive land and property development interests in both New Zealand and Australia Group Corporate Structure Overview of CDL Hotels From 2000 to 2004 the Profit Group net profit of the CDLHNZ has been increas-ing Only at 2003 had a little decrease because the outbreak of Severe Acute Respiratory Syndrome SARS in the region during the second quarter of 2003 It had adversely impacted the leisure and hospitality industry as a whole and the Groups financial performance was not spared It also had negative effect on the Earning per share in 20 03 487c compared to the previous year 489 But the Earning per share in 2003 was more than in 2002 306 and in 2004 it was 663c per share compared to the year of 2003 The dividends per share stepped a new stage with 210c in 2004 compared to the last three years with 140c The net asset backing per share has been increase during five years period This financial performance con-firms an improving profit trend over the past five years as the company focused on delivering value to its shareholders The total revenue in 2004 was 1669 million a slight decrease of 107 or 18 million compared to 1683 million
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