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Danubius Hotels merges two subsidiaries

Hotel chain operator Danubius Hotels Rt has merged two of its subsidiaries, Danubius Beta Hotels and Danubius Hotel Operator, the company announced on the website of the Budapest Stock Exchange on Monday. Danubius Beta runs DH's smaller, two- and three-star hotels in Budapest, Héviz, east Hungary and around Lake Balaton. Danubius Hotels had pre-tax profit of Ft 129 million in the first half of 2005, down from Ft 448 million in the same period a year earlier. Pre-tax profits fell because of exchange rate losses, but operating profits increased, the company noted.