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 and/or managed, with approxi-mately 3,500 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 Group's financial performance was not spared. It also had negative effect on the Earning per share in 20 03 (4.87c) compared to the previous year (4.89). But the Earning per share in 2003 was more than in 2002 (3.06), and in 2004 it was 6.63c per share compared to the year of 2003. The dividends per share stepped a new stage with 2.10c in 2004 compared to the last three years with 1.40c. 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 $166.9...