The tourism company Hapimag � a leading international provider of holiday rights of residence � had invited over 130,000 shareholders, also known as partners, to the AGM. Two forums were held in the halls decorated to evoke a holiday-like atmosphere. In Forum 1 the themes travel, bookings and the Hapimag resorts were presented. The second forum was dedicated to the area of finance with the themes accounting and IAS (International Accounting Standards). These events developed active interest and were valued by the shareholders as a sign of transparency and of encouraging open dialogue. Hapimag will persist in the future to strive for continuous growth. Services and offers for Hapimag shareholders will be further improved and developed. Hapimag is building on its future � next year the company will celebrate its 40-th anniversary.

In the absence of the President of the board, Dr Marisabel Spitz Kasper, who a few days ago gave birth to her second child, the vice-president, Dr Stefan H. Schalch, lead the AGM. In his speech he explained the goals of Hapimag and the basis of Corporate Governance, which in the meantime, has largely already been achieved.

The CEO of Hapimag, Marco Hartmann, explained the financial year 2001. The new accounting system has been set up on the basis of the International Accounting Standards (IAS) and thereby increases transparency for the shareholders. Hapimag shareholders have been active in using their rights of residence. In total 3 million overnights have been recorded in the 60 holiday resorts across 18 European countries. The occupancy of the Hapimag holiday residences was once again high. Furthermore, Hapimag offers its shareholders travel services such as flights, transfers, hire cars etc. In this segment Hapimag has also achieved a pleasing result.
 
Hapimag continued to expand its offer in 2001. 71 million francs were invested in 10 additional houseboats in France and three new resorts: Orlando-Lake Berkley in Florida was opened on 11. May 2002, the holiday residence in Interlaken, Switzerland welcomed its first guests on 1. June 2002, and the city residence in Prague opened its doors to partners on 1. July 2002. Subsequently, the book value of Hapimag�s properties has risen to over one billion francs.

In 2001 some of the existing holiday residences were renovated, the costs of which totaled 28 million francs.

In the future Hapimag will stay at the head of the European market, and intends to further improve its leading position. 

Hapimag is a leading international provider of holiday rights of residence. The Swiss company was founded in Baar in the canton of Zug in 1963 as a Swiss joint-stock company. Currently, well over 130,000 Hapimag partners have the right to enjoy their own Holiday World. With the purchase of Hapimag shares, Feridence Certificates, and Holiday-World Visas, joint financial owners receive the right to enjoy holiday resorts rent free in accordance with a points system. The only additional costs are those related to travel, the all in extras package, and an annual subscription charge which covers the yearly running costs. Place and time of the holiday may be freely chosen. Currently partners may choose from 5,500 apartments and hotel rooms in 60 resorts all located in the most beautiful areas and spread over 18 countries in Europe and overseas. Hapimag only invests in first-class locations thereby keeping its long-term vision in mind. The company employs over 1,500 personnel worldwide.