Yelena Baturina's Austrian Resort Sees Improved Financial Performance

LONDON, January 12, 2015 /PRNewswire/ --

The Austrian hospitality interests of Russian businesswoman Yelena Baturina, the owner of the five-star Grand Tirolia Hotel and the Eichenheim golf course, are recovering following challenging conditions in 2013/14.

In 2013, Baturina parted with an Austrian hotel management company following difficulties, and a new management team is now in place. The financial report of Grand Tirolia for the year of 2013 shows that the hotel business rallied, and reduced its losses in half - from over EUR 2 million in 2012 to EUR1.1 million in 2013. The golf course, which is also part of the resort, showed a two-fold improvement of its financial indicators for 2013.

Commenting on the financial reports, Gennady Terebkov, a representative of Yelena Baturina, said: "The difficulties of Grand Tirolia and Eichenheim were temporary, and the trend, as anyone can see, is positive. The quality of the services provided here will only improve, and we expect to show profit as early as in 2015."

The Russian businesswoman has already invested about EUR 80 million in the resort, which is situated in the picturesque surroundings of the Austrian Alps. The investment was used for a range of purposes, including completing construction and for sponsoring local sports and cultural events, as well as charitable activities and international music festivals held in nearby Kitzbuhel.

Kitzbuhel Tourism Director Gerhard Walter paid tribute to Baturina's involvement in the area, saying, "Kitzbühel is a premium destination, the sustainable investment by Mrs Baturina is very welcome, especially since it is an investment in Kitzbühel Tourism, particularly in the high-quality tourism. The Grand Tirolia Kitzbühel is a top hotel with good capacity utilization, which also runs a top golf course. In addition, the house secures valuable jobs in the region."

SOURCE UK Press Office for Yelena Baturina