The TMR Group achieved significant growth in results in the financial year 2022/23.

The TMR Group achieved significant growth in results in the financial year 2022/23.
The TMR Group achieved significant growth in results in the financial year 2022/23.

LIPTOVSKÝ MIKULÁŠ (February 29, 2024) –Tatry mountain resorts, a.s. („TMR“, the „Group“) published its financial results as of October 31, 2023. The Group’s consolidated revenues were almost EUR 56 mil. higher during the reporting period, than during the same time last year. The operating profit before depreciation and amortization (EBITDA) increased by 76% to EUR 59.4 mil.

Key performance indicators in individual segments showed significant growth compared to the previous year, which reflected in higher revenues.

We have completed a successful and challenging year. We faced not only economic challenges in the form of rising consumer prices for goods and services, labor cost increases, and increase in interest rate, but also the impact of unpredictable weather that affected the winter season in locations outside of Slovakia. Despite these mentioned negative external influences, we achieved record numbers that reflect not only our resilience to challenges but also our ability to react quickly and effectively to changing circumstances. We effectively utilized our long[1]term expertise in price management through dynamic pricing, introducing new products, leveraging synergies within our resorts, and utilizing the Gopass program. As a result, consolidated revenues increased by 43% to EUR 188.4 million, and the Group‘s operating profit before depreciation, interest, and taxes (EBITDA) reached EUR 59.4 million, a 76% increase compared to the previous fiscal year. After accounting for higher operating costs, interest expenses, depreciation, impairment of fixed assets, and tax expenses, we reported a net consolidated loss of EUR 0.5 million. Despite this loss, we managed to maintain the group‘s cash flow at a stable level, with timely fulfillment of all obligations to our creditors and partners,“ commented Igor Rattaj, Chairman of the Board of Directors and CEO of TMR Group.

The largest segment, Mountain resorts, generated revenues of EUR 70.832 mil., a year-on-year increase of 39.1%. Revenues in the Leisure parks rose to EUR 23.344 million. The Golf segment achieved revenues of EUR 855 ths., a growth of 15.5%. Revenues from the Dining facilities increased to EUR 27.474 mil. Sport services & Stores, correlated somewhat with the performance of Mountain Resorts, recorded an increase in revenues, totaling EUR 6.724 mil. The Hotels segment recorded a revenue increase to EUR 55.962 mil. In the Real Estate segment during the observed period TMR reported revenues of EUR 3,188 mil. mainly as a result of sale of bungalows in Tatralandia.

The number of skier days in Mountain Resorts was 10.1% higher year-on-year and reached the level of 2.928 mil. (2.660) skier days. Leisure Parks recorded an almost 26% rise in the number of visitors, in absolute numbers 1.880 mil. visitors (1.416).

The average occupancy of the hotel portfolio rises by 4.9 percentage points to 59.4%. Average daily rate (ADR) increased by 4.7% to EUR 112.17.

Last year, we invested EUR 22.7 million, primarily directed towards Slovak resorts, including the construction project of the Jasná Central Resort Hotel. Other significant investments included the completion and operation of the Biela Púť-Priehyba cable car, the reconstruction of wellness facilities in Grandhotel Starý Smokovec, and the refurbishment of apartments in Bešeňová. Investments also went into our foreign resorts in Poland, Czech Republic, and Austria.

Detailed results are available at

The company Tatry mountain resorts, a.s. (TMR) is a leading entity in the field of tourism in Central and Eastern Europe, which owns or leases and operates attractive mountain resorts, amusement parks, golf resorts, restaurants, sports services, shops, and hotels. In the Low Tatras in Slovakia, TMR owns and operates the Jasná Nízke Tatry resort and the hotel’s Grand Jasná, Hotel Tri Studničky, Chalets Jasná Collection, Hotel Srdiečko, Hotel Pošta, Night at Mt. Chopok, Hotel SKI and Hotel Liptov. TMR is also the owner of the water parks Tatralandia and Bešeňová. These are the largest water parks operating year-round, offering accommodation in bungalows and apartments in Holiday Village Tatralandia and in the hotels Bešeňová, Galeria Thermal Bešeňová, and Hotel Akvamarín Bešeňová. In the High Tatras, TMR owns and operates the Vysoké Tatry resort with mountain locations Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso. In the Slovak High Tatras, TMR also owns the hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso, Night at Mt. Lomnickom štít and Horec Apartments. In Austria, the Group owns and operates the alpine resort on the Mölltaler Gletscher glacier and its sister resorts Ankogel Mallnitz and Muttereralm Innsbruck. In the Czech Republic, TMR also holds a minority stake in Melida, a.s., which leases and operates the Špindlerův Mlýn resort. TMR also leases and operates the Czech ski area Ještěd, Golf & Ski Resort Ostravice, and leases the Kaskáda Golf Resort Brno, where it oversees the operation of the hotel, restaurant, and congress center. In Poland, TMR owns and operates the mountain resort Szczyrk Mountain Resort and Legendia – Silesian Amusement Park (Śląskie Wesołe Miasteczko). In the real estate projects, the Group primarily focuses on the development, construction, and sale of apartments and commercial spaces and the leasing of hotels in TMR resorts. By the end of the 2022 fiscal year, approximately EUR 466 mil, has been reinvested in the development and modernization of TMR resorts. TMR shares are traded on three European stock exchanges in Bratislava, Prague, and Warsaw.