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's activity report 2022

The main activity of OÜ Hotel Telegraaf is the organization of accommodation and catering activities, the organization of entertainment events related to accommodation and catering establishments, and the provision of spa services.

In 2022, they continued in the world's largest Marriott International hotel chain under the Autograph Collection brand, which they joined in 2017.

In the first months of 2022, travel restrictions imposed during the COVID-19 pandemic were lifted and the sector began to recover from the pandemic. The war in Ukraine that began at the end of February created a geopolitically and economically difficult situation, which also had a dampening effect on the tourism sector. Nevertheless, the 2022 turnover for Hotel Telegraaf OÜ was satisfactory, falling less than 5% from the last pandemic year of 2019.

According to the Estonian Statistical Office, tourists spent 5.95 million nights in Estonia (15% or 1.02 million less than in 2019). Foreign tourists spent 2.9 million nights in accommodation establishments (-33% or 1.46 million less than in 2019).

The number of accommodated domestic tourists reached 3 million nights (17% more than in 2019), which is a record result.

Hotel Telegraaf's clientele consisted of 86% foreign tourists and 14% domestic tourists. A total of 29,672 thousand guests were accommodated in the hotel, which is 81% more than in 2021 and 5.9% less than in 2019.

The rapid recovery of tourism and the fact that more than a third of the workforce left the sector during the pandemic posed a challenge in finding labor. In 2022, we collaborated with several schools to find new employees among young people, offering students both internship and job shadowing opportunities, and we also participated in active learning by sharing our experiences.

In 2022, we also saw a sharp inflation, which led to wage pressure and an energy crisis, which significantly increased energy costs. The opportunity to use the state-supported universal service package and various energy-saving measures helped to cope with the effects of the growth in energy costs.

As in 2021, cost optimization was continued and we are increasingly focusing on sustainability in our activities.

Profitability ratios % 2022 2021

Sales revenue growth 84.26 34.60 (sales revenue 2022-sales revenue 2021) /sales revenue 2021*100

Turnover profitability 1.49 8.45

Operating profit/Sales revenue*100

Liquidity ratios

Payment ability ratio 1.44 1.46

Current assets/Short-term liabilities

Liquidity ratio 1.33 1.36

Liquid assets (current assets- inventories) /Short-term liabilities