Newsletter - July 26, 2002
Starwood Reports
Second Quarter 2002 Results
(BUSINESS WIRE)--July 25, 2002--Starwood Hotels & Resorts Worldwide,
Inc. (NYSE: HOT) ("Starwood" or the "Company") today
reported results for the second quarter of 2002.
Second Quarter Financial Results
-
EPS, excluding special items, was $0.41 compared to $0.54 in 2001.
Including special items, EPS was $0.37 compared to $0.52 in 2001. EPS,
including tax benefits from discontinued operations was $0.87 compared to
$0.52 in 2001.
-
Total revenues of $1.032 billion, excluding other revenues from managed
and franchised properties, decreased 7.0% from 2001 levels. Revenue per
available room ("REVPAR") for Same-Store Owned Hotels decreased
10.1% in North America and
-
10.2% worldwide when compared to 2001.
-
Total Company EBITDA was $320 million compared to $401 million in 2001.
EBITDA at Comparable Owned Hotels worldwide decreased
-
19.2% to $253 million. EBITDA at Comparable Owned Hotels in North
America decreased 20.8% to $178 million.
-
Total Company EBITDA margin was approximately 31.0%. EBITDA margin at
Comparable Owned Hotels in North America was 29.2%, up 190 basis points
from the first quarter of 2002. EBITDA margin at Comparable Owned Hotels
worldwide was 30.3%, up 380 basis points from the first quarter of 2002.
Second Quarter Ended June 30, 2002
Excluding net charges for special items of approximately $14 million
(pretax) in 2002 and $8 million (pretax) in 2001, EPS was $0.41 compared to
EPS of $0.54 in the corresponding period of 2001. Including these special
items, EPS was $0.37 compared to EPS of $0.52 in 2001. Total revenues were
down 7.0% to $1.032 billion compared to the same period of 2001. Operating
income, excluding special items, was $189 million compared to $254 million in
the same period of 2001 and income from continuing operations, excluding
special items, was $85 million compared to $112 million in the same period of
2001. Though in line with the Company's expectations, results were adversely
impacted by the weakened worldwide economic environment. However, operating
results continued the sequential quarterly improvement over the fourth quarter
of 2001 and first quarter of 2002. Operating results continued to improve
primarily as a result of an improving demand environment, a continued focus on
cost control and an increase in vacation ownership interest ("VOI")
results. As discussed in the first quarter 2002 earnings release, in
connection with the repayment of debt with the proceeds from the April 2002
senior notes offering, the Company incurred approximately $29 million (pretax)
of one-time charges relating to the write-off of deferred financing costs,
termination fees for early extinguishment of debt, and terminated interest
rate swaps associated with the repaid debt. During the second quarter of 2001,
the Company incurred approximately $9 million (pretax) of such charges related
to the early extinguishment of debt. Excluding these charges, net interest
expense decreased by $11 million when compared to the second quarter of 2001
due to a reduction in interest rates and the completion of financing
transactions in the past year. Results further benefited from a $16 million
after-tax reduction in goodwill amortization as a result of a new accounting
rule pertaining to goodwill and intangible assets. Depreciation expense
increased $9 million or 8.4% when compared to the second quarter of 2001 due
to prior year's renovation program and the repositioning and acquisition of
certain hotels.
Six Months Ended June 30, 2002
For the six months ended June 30, 2002, total revenues were $1.926 billion
when compared to $2.124 billion in the same period in 2001. EPS excluding net
benefits for special items of $9 million (pretax) in 2002 and net charges of
$7 million (pretax) in 2001 was $0.49, compared to EPS of $0.84 in the
corresponding period in 2001. EPS including these special items was $0.52
compared to $0.82 in 2001 and EPS including discontinued operations was $1.03
compared to $0.82 in 2001. Income from continuing operations decreased to $108
million in the six months ended June 30, 2002 compared to $169 million in the
same period of 2001. Income from continuing operations excluding special items
was $102 million for the six months ended June 30, 2002 and $174 million for
the comparable period of 2001.
Comments from the CEO
Barry S. Sternlicht, Chairman and CEO said, "Though the economic
environment remains extremely challenging and the speed of the economic
recovery has clearly moderated from our expectations in the first quarter of
2002, there are very encouraging trends, both for the industry and for our
company that remain intact. For the industry, future supply continues to
decline rapidly, particularly in large urban markets where our assets are
concentrated and where the recovery is likely to be most pronounced. For our
company, our European operations, particularly Italy and Spain, have fared
better than we had predicted and will be helped further by the Euro's rise.
Asia also has exceeded our expectations with owned hotels posting a 14%
increase in REVPAR for the quarter. South America, particularly Argentina, has
been extremely difficult and is likely to remain so for the foreseeable
future."
Concluding, Mr. Sternlicht said, "As for our brands, our Same-Store
Owned W brand's REVPAR fell just 2% in the quarter and North America
systemwide REVPAR declined less than 1% as the brand continues to build share.
Three new W's in San Diego, Seoul and Mexico City will bring our total to 19
and we soon expect W to expand to Europe. Our Westin brand also performed
admirably with Same-Store Owned Hotels REVPAR down 8.8% in North America and
owned and managed REVPAR down just 5.9%. Westin continues to gain share buoyed
by product innovations like the Heavenly Bed, the Heavenly Shower and a new
marketing campaign. While Sheraton's owned REVPAR did not meet our
expectations, in part because of its heavy urban concentration, we expect to
build upon our Westin and W experience and launch several new Sheraton
programs in the third and fourth quarter as we continue the re-imaging of the
brand."
Operating Results
At the Company's Comparable Owned Hotels worldwide, revenues for the second
quarter of 2002 decreased approximately $89 million to $834 million from $923
million in 2001 and EBITDA decreased 19.2% to $253 million from $313 million
in 2001. EBITDA at the Company's Comparable Owned Hotels in North America
decreased 20.8% to $178 million in the second quarter of 2002 when compared to
the same period of 2001. EBITDA at the Company's Comparable Owned Hotels
internationally decreased 15.1% to approximately $75 million in the second
quarter of 2002 when compared to the same period of 2001. The positive effects
of foreign exchange in Europe were offset by the effects from the continued
weakening of the Argentine Peso. Excluding the unfavorable effects of foreign
exchange, EBITDA at the Company's Comparable Owned Hotels internationally
decreased 11.9% in the second quarter of 2002 when compared to the same period
in 2001. The decline in operating results at Comparable Owned Hotels in North
America when compared to 2001 reflect the impact of lower REVPAR primarily
attributable to the weakened global economies.
REVPAR at Same-Store Owned Hotels worldwide decreased 10.2% in the second
quarter of 2002 when compared to the same period of 2001 as a result of a
decline in occupancy rates of 350 basis points to 66.5% and a decline in
average daily rate ("ADR") of 5.5% from the prior year. REVPAR at
Same-Store Owned Hotels in North America decreased
-
10.1% to $98.93 when compared to the same period of 2001 as a result of
a decrease in occupancy rates to 68.1% from 70.9% in the prior year, while
ADR decreased 6.5% to $145.20. Internationally, Same-Store Owned Hotel
REVPAR decreased 10.5%, with Europe down 7.9%, Latin America down 24.7%
and Asia Pacific up 14.1% when compared to 2001.
EBITDA margins at Comparable Owned Hotels worldwide were 30.3% in the
second quarter of 2002 when compared to 33.9% in the same period of 2001. In
North America, EBITDA margins at Comparable Owned Hotels were 29.2% when
compared to 33.1% in the same period of 2001 but increased 190 basis points
when compared to 27.3% in the first quarter of 2002. Internationally, EBITDA
margins at Comparable Owned Hotels were 33.4% when compared to 35.9% in the
same period of 2001 but increased substantially when compared to 23.8% in the
first quarter of 2002.
During the second quarter of 2002, the Company added five management and
franchise contracts representing more than 1,000 rooms, including the Sheraton
Krakow (238 rooms) in Krakow, Poland; the Lanesborough, a St. Regis Hotel (95
rooms) in London, England and the St. Regis Ft. Lauderdale (197 rooms) in
Florida. New hotel openings during the balance of 2002 include the Westin
Shanghai (approximately 450 rooms) in Shanghai, China, the Sheraton Wild Horse
Pass (approximately 500 rooms) in Phoenix, Arizona; the W San Diego
(approximately 260 rooms) in California and the Hotel Bora Bora Nui
(approximately 120 rooms) in French Polynesia. Including these properties,
through the end of 2003, the Company expects 50 new hotels and resorts around
the world, with approximately 15,000 rooms to commence operations.
Starwood Vacation Ownership, Inc. ("SVO") is currently selling
VOI inventory at ten resorts and engaged in pre-opening sales at two others
currently under construction (Westin Mission Hills Resort Villas in Rancho
Mirage, California and Westin Ka`anapali Ocean Resort Villas in Maui, Hawaii).
Contract sales in the second quarter increased approximately 11.3% when
compared to the same period in 2001 and sales were particularly strong at the
Maui and Mission Hills resorts. SVO EBITDA increased approximately 7.3% when
compared to the same period in 2001. SVO will begin construction of its fourth
Westin-branded interval ownership resort later this year featuring 158 villas
located adjacent to the Westin Kierland Resort & Spa in Scottsdale,
Arizona. The resort is scheduled to open in late 2002. The Company sold
approximately $87 million of notes receivable originated by the vacation
ownership operations in the second quarter of 2002, recognizing a gain of $9
million in operating income compared to a gain of $8 million in the second
quarter of 2001.
Acquisitions and Dispositions
During the second quarter of 2002, the Company sold the Allentown Clarion
for $5 million in cash. The Company continues to review its portfolio for
disposition candidates. In January, the Company announced that it had
initiated the formal sale process for the CIGA portfolio of 25 luxury hotels,
land, golf courses and marinas. The Company is in final discussions with
interested parties with respect to a select group of properties and is
expected to enter into definitive contracts for sale in the next sixty days.
Capital
During the second quarter of 2002, the Company invested approximately $66
million in hotel and VOI capital assets, including VOI construction at Westin
Mission Hills Resort Villas in Rancho Mirage, California and Westin Ka`anapali
Ocean Resort Villas in Maui, Hawaii as well as the ongoing development of the
St. Regis Museum Tower in San Francisco (269 rooms and 102 condominiums)
scheduled for completion in 2004. Work also continues on the flexible new
build Sheraton and Westin prototypes.
Financing
On June 30, 2002, the Company had total debt of $5.497 billion and cash and
cash equivalents of $196 million. At the end of the second quarter of 2002,
the Company's debt was approximately 53% fixed rate and 47% floating rate and
its weighted average maturity was 5.9 years. As of June 30, 2002, the Company
had cash and availability under its domestic and international revolving
credit facilities of approximately $663 million and the Company's debt had a
weighted average interest rate of 5.75%.
In April 2002, the Company sold $1.5 billion of senior notes in two
tranches -- $700 million principal amount of 7-3/8% senior notes due 2007 and
$800 million principal amount of 7-7/8% senior notes due 2012. The Company
used the proceeds to repay all of its senior secured notes facility and a
portion of its senior credit facility. After the close of the second quarter,
the Company entered the market to refinance the remaining senior credit
facility maturing February 2003, with an expected closing of the new facility
in September 2002.
In May 2002, the Company repurchased Series A convertible notes for $202
million in cash. Series B convertible notes, which can be put to the Company
in May 2004 for approximately $330 million, were originally issued in May
2001.
At June 30, 2002, Starwood had approximately 203 million shares outstanding
(including partnership units and exchangeable preferred shares).
Dividend
In 2002, the Company has shifted from a quarterly dividend to an annual
dividend. The final determination of the amount of the dividend will be
subject to economic and financial considerations and Board approval in the
fourth quarter of 2002. At this time, the Company expects the annual dividend
to be $0.84 per share.
Special Items
The Company recorded net charges of $14 million (pretax) for special items
in the second quarter of 2002 when compared to net charges of $8 million
(pretax) in the same period of 2001.
As discussed previously, the net charges in the second quarter of 2002
primarily represent $29 million (pretax) of costs associated with the early
extinguishment of debt, offset, in part, by a non-cash foreign exchange gain
of approximately $9 million (pretax), resulting from the devaluation of the
Argentine Peso and a $6 million (pretax) state tax refund. The foreign
exchange gain represents the mark-to-market, in accordance with Statement of
Financial Accounting Standards No. 52, of a U.S. dollar intercompany
receivable in Argentina. The special charges for the second quarter of 2001
primarily represent $9 million (pretax) of costs associated with the early
extinguishment of debt.
The following represents a reconciliation of income from continuing
operations before special items to income from continuing operations after
special items:
(In millions, except per Share data)
Three Months Ended Six Months Ended
June 30, June 30,
------------------- -----------------
2002 2001 2002 2001
------- ------- ----- -----
Income from continuing
operations excluding
special items $ 85 $ 112 $ 102 $ 174
------ ------- ------ -------
EPS excluding special items $ 0.41 $ 0.54 $ 0.49 $ 0.84
------- ------- ------- -------
Special Items:
Restructuring and other
special credits, net 1 - 3(a) 1(b)
Gain (loss) on
asset dispositions (1) 1 (4)(c) 1
Foreign exchange gain
from Argentina(d) 9 - 33 -
Debt extinguishment costs(e) (29) (9) (29) (9)
State tax refund 6 - 6 -
-------- -------- ------ ------
Total special items
- pretax (14) (8) 9 (7)
Income tax benefit
(expense) - 35%
incremental tax rate 5 3 (3) 2
-------- -------- ------ ------
Total special items
- after-tax (9) (5) 6 (5)
-------- -------- ------ -------
Income from
continuing operations $ 76 $ 107 $ 108 $ 169
-------- -------- ------ -------
EPS including
special items $ 0.37 $ 0.52 $ 0.52 $ 0.82
-------- -------- ------- --------
-------------
(a) During the first quarter of 2002, the Company sold its investment
in an e-business venture previously deemed impaired and collected
receivables, which were previously deemed uncollectible.
(b) During the first quarter of 2001, the Company wrote down its
investments in various e-business ventures by approximately $19
million based on the market conditions for the technology sector
at the time and management's assessment that these investments
were permanently impaired. This charge was offset by the reversal
of a $20 million bad debt restructuring charge taken in 1998
relating to a note receivable which is now fully performing.
(c) Balance primarily represents an impairment charge recorded in the
first quarter of 2002 to reduce the carrying value of a hotel to
its fair market value.
(d) Amount is reflected in selling, general, administrative and other
expenses and represents a foreign exchange gain resulting from
the devaluation of Argentine Peso.
(e) Balance is reflected in interest expense and represents costs
related to the early extinguishment of debt in 2001 and 2002 and
the associated interest-rate swap unwindings for 2002.
Discontinued Operations
During the second quarter of 2002, the Company recorded a gain of $104
million from discontinued operations primarily related to IRS regulations
issued earlier this year, which allows the Company to recognize a tax benefit
from a loss on the 1999 sale of Caesars World, Inc. The tax loss was
previously disallowed under the old regulations. The remaining gain resulted
from an adjustment to the Company's tax basis in its World Directories
subsidiary, which was disposed of in early 1998. The increase in the tax basis
has the effect of reducing the deferred tax gain on this disposition.
Future Performance
All comments in the following paragraphs and certain comments in this
release above are deemed to be forward-looking statements. These statements
reflect expectations of the Company's performance given its current base of
assets and its current understanding of external economic and political
environments. Actual results may differ materially.
The weakness in North American and European economies, combined with the
current political environment in Argentina and other parts of the world and
their consequent impact on travel in their respective regions and on the rest
of the world, make it difficult to predict future results with any degree of
precision.
-
The Company currently expects full year 2002 REVPAR to decline 2-3%
from 2001 levels, full-year EBITDA of approximately $1.185 to $1.210
billion and EPS of approximately $1.20 to $1.30 with an effective tax rate
of approximately 21%. Based on these assumptions and assuming no asset
sales for modeling purposes, approximate quarterly EPS for the remaining
quarters of 2002 is expected to be as follows:
2002
-----------------------
First quarter (actual) $ 0.08
Second quarter (actual) $ 0.41
Third quarter (estimate) $ 0.26-$ 0.31
Fourth quarter (estimate) $ 0.45-$ 0.50
-----------------------
Full year (estimate) $ 1.20-$ 1.30
=======================
-
REVPAR at Same-Store Owned Hotels in North America for the third
quarter of 2002 is now expected to be flat to up 3% when compared to the
third quarter of 2001.
-
The Company currently expects total capital expenditures in 2002 to be
approximately $300 million, excluding acquisitions and other investments.
-
Discretionary free cash flow (after cash interest expense, cash taxes,
and capital expenditures) is expected to exceed $400 million.
Starwood will be conducting a conference call to discuss the second quarter
financial results at 10:30 a.m. (ET) today. The conference call will be
available through simultaneous webcast in the Investor Relations/Press
Releases section of the Company's website at www.starwood.com. A replay of the
conference call will also be available from 1:30 p.m. (ET) today through 8:00
p.m. (ET) Thursday, August 1, on both the Company's website and via telephone
replay at 719-457-0820 (access code: 343019).
All references to EPS, unless otherwise noted, reflect earnings per diluted
share from continuing operations excluding special items. All references to
total revenues exclude other revenues from managed and franchised properties.
All references to total Company EBITDA and EBITDA margins exclude other
revenues and expenses from managed and franchised properties. All references
to Comparable Owned Hotels reflect the Company's owned, leased and
consolidated joint venture hotels, excluding hotels sold during 2001 and 2002
and hotels without comparable prior year results. All references to Same-Store
Owned Hotels reflect the Company's owned, leased and consolidated joint
venture hotels, excluding hotels under significant renovation or for which
comparable results are not available.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel
and leisure companies in the world with more than 740 properties in over 80
countries and 110,000 employees at its owned and managed properties. With
internationally renowned brands, Starwood is a fully integrated owner,
operator and franchiser of hotels and resorts including: St. Regis(R), The
Luxury Collection(R), Sheraton(R), Westin(R), W(R) and Four Points(R) by
Sheraton brands, as well as Starwood Vacation Ownership, Inc., one of the
premier developers and operators of high quality vacation interval ownership.
(Note: This press release contains forward-looking statements within the
meaning of federal securities regulations. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties and other
factors that may cause actual results to differ materially from those
anticipated at the time the forward-looking statements are made. General
economic conditions including the duration and severity of the current global
economic downturn, the impact of the terrorist attacks in New York,
Washington, D.C. and Pennsylvania and their aftermath, business and financing
conditions, cyclicality of the real estate and the hotel and leisure business,
operating risks associated with the hotel and leisure business, domestic and
international political conditions, competition, governmental and regulatory
actions, risk associated with the level of our indebtedness, and other
circumstances and uncertainties may affect future results, performance and
achievements. These risks and uncertainties are presented in detail in our
filings with the Securities and Exchange Commission. Although we believe the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that our expectations will be
attained or that results will not materially differ. We undertake no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.)
Further information is available at
Starwood's website: http://www.starwood.com
British
holidaymakers lead the move for environmentally- responsible travel - says new
multi-national report for the International Hotels Environment Initiative (IHEI)
British holidaymakers are leading the move towards
environmentally responsible travel, according to a new multi-national report
on consumer travel trends by the International Hotels Environment Initiative.
Nine out of 10 people surveyed in the UK believe tourism
development is in danger of destroying the environment, compared to 70% of
Australians and a third of Americans.
The report, out today, is based on the first international
survey of consumer attitudes towards the role of hotels in environmental
sustainability. It was conducted this month among travellers at airports in
the UK, US and Australia by IHEI member hotel group Small Luxury Hotels of
the World.
According to IHEI director Karen Fletcher, “Ten years ago
only a handful of hoteliers recognised their vital role in protecting our
environment and sustaining tourism.
“Today there is a groundswell of awareness within the
industry that the survival of tourism destinations depends upon our ability as
individuals and organisations to reduce the pressures on the earths
ecosystems. Fortunately for hotels this translates into tangible cost savings
and business benefits.”
The report shows that 90% of British tourists interviewed
nowadays consider it part of a hotel’s responsibility to actively protect
and support the environment, including local communities, and are more likely
to book a property with a responsible environmental attitude.
This compares with two thirds of Australians and Americans polled.
However, no British respondents reported actually asking if
hotels have an environmental policy, a question posed by a less shy 26% of
Australians and 14% of Americans.
Greater pressure on hotels from the Brits and Australians
British people and Australians expect more from their hotels.
Fifty three percent of each (compared to only 28% of Americans
surveyed) are very likely to choose hotels with equipment like renewable power
supplies and biological wastewater treatment systems.
Australians particularly favour properties which use recycled
toilet paper and biodegradable toiletries (50%), compared to only a quarter of
Brits and 13% of Americans.
Predictably the British are keen on places which protect
animal and marine life (80%, as opposed to 60% of Americans).
Ninety six percent say they pay extra care when throwing away rubbish
likely to harm wildlife (75% Australia; 57% US).
But it is the Australians who show most concern for nature,
with 83% supporting hotels which avoid felling trees (compared to 32% of
people in the US).
Reflecting American food tastes, only 11% of US consumers
prefer hotels using home- or locally-grown vegetables and fruit, as opposed to
an average 58% in the other countries.
At a domestic level…
The Brits and Australians demand more
environmentally-responsible hotel keeping, with an average 65% (compared to
26% Americans) preferring hotels which conserve energy by re-using towels and
closely managing lighting and air conditioning.
Seventy four percent of British travellers surveyed (62%
Australians; 57% US) like hotels which seek to employ staff from local
communities, figures also reflected in the 87% of Brits (63% Australians; 60%
US) which expect their hotels to guarantee good wages and working conditions.
There is a growing recognition that environmental
sustainability extends to protecting the well-being and culture of local
communities and their people, endorsed by 71% of Brits and Australians but
only 53% of people surveyed in the US.
In particular, 62% of Australians interviewed
(57% UK; 49% US) consider it very important that hotels support local
businesses and cottage industries, as well as investing in local schools and
hospitals
Seventy seven percent of Brits surveyed (70% Australia; 54%
US) feel hotels should consult local people on how their land is developed and
used, as well as share prime resources like water and power with their nearby
communities.
However, only 33% of Americans asked want to find local
people on their hotel beach, compared to 75% of more willing Australians and
Brits.
New awareness of personal responsibility:
While all three nationalities are equally happy to save water
by showering, not bathing (70%), the British more readily conserve power by
switching off lights and turning down air conditioning when leaving their
hotel room (91% UK; 67% Australia; 76% US).
Seventy percent of Australians asked
(and 65% of Brits), but only 36% of Americans, cycle or walk on
holiday, instead of travelling by car.
Thirty eight percent of Americans surveyed say they often
fail to dress according to local sensitivities (only 22% Brits), and 35% of
Australians interviewed find themselves intolerant of language differences
(12% Brits and Americans).
The survey: In July 2002, on behalf
of IHEI, Small Luxury Hotels of the World surveyed approximately 300
travellers at airports in the UK, US and Australia.
The
purpose of the survey was to get a feel for current consumer views on
sustainable tourism, identifying attitudinal changes and new holiday trends.
IHEI
Survey on Attitudes to Environmental Tourism
UK -
Asia Pacific -
US
-
Do
you agree with the following statements:
|
|
Yes
%
|
No
%
|
Don’t
know %
|
|
Tourism
development is in danger of destroying the environment
|
87
|
72
|
30
|
13
|
21
|
51
|
0
|
7
|
19
|
|
Tourist
development contributes to environmental protection and
conservation
|
18
|
60
|
30
|
56
|
28
|
47
|
26
|
12
|
22
|
|
It
is important that hotels actively take steps to preserve and
protect
our natural resources
|
96
|
77
|
81
|
4
|
15
|
14
|
0
|
8
|
5
|
|
I
am more likely to book a hotel with a responsible environmental
attitude
|
87
|
60
|
54
|
9
|
18
|
14
|
4
|
22
|
14
|
When
choosing a hotel, how influenced are you if it undertakes
the following:
|
|
Very
%
|
Not
Very %
|
Not
At All %
|
|
Uses
recycled toilet paper
|
9
|
43
|
8
|
35
|
40
|
27
|
56
|
17
|
65
|
|
Uses
non-toxic, biodegradable toiletries
|
40
|
57
|
19
|
30
|
33
|
32
|
30
|
10
|
49
|
|
Only
uses electricity from renewable supplies like solar power and wind
|
35
|
58
|
14
|
48
|
30
|
41
|
17
|
12
|
46
|
|
Is
constructed of indigenous materials
|
44
|
42
|
14
|
26
|
36
|
46
|
30
|
22
|
40
|
|
Is
designed to reflect the surrounding architecture and landscape
|
70
|
73
|
39
|
9
|
22
|
44
|
21
|
5
|
17
|
|
Is
sensitive to its marine life
|
74
|
70
|
46
|
13
|
25
|
31
|
13
|
5
|
23
|
|
Has
gone to great lengths avoid felling trees
|
65
|
83
|
32
|
26
|
13
|
32
|
9
|
4
|
35
|
|
Protects
local wildlife and its habitats
|
87
|
63
|
64
|
0
|
27
|
19
|
13
|
10
|
19
|
|
Contributes
money towards preserving the local environs
|
61
|
43
|
38
|
26
|
43
|
32
|
13
|
14
|
29
|
|
Has
a biological waste water treatment system
|
40
|
47
|
27
|
30
|
38
|
35
|
30
|
15
|
38
|
|
Uses
home- or locally-grown vegetables and fruit
|
65
|
50
|
11
|
9
|
40
|
43
|
26
|
10
|
46
|
How
important to your holiday are the following measures that hotels can take to
protect the environment:
|
|
Very
%
|
Not
Very %
|
Not
At All %
|
|
Offer
to re-use towels
|
52
|
63
|
30
|
22
|
30
|
46
|
26
|
7
|
24
|
|
Conserve
energy by keeping lights and air conditioning low
|
57
|
68
|
22
|
17
|
29
|
47
|
26
|
3
|
31
|
|
Recycle
waste water to irrigate its gardens
|
56
|
65
|
22
|
17
|
30
|
46
|
17
|
| 
