DANUBIUS HOTELS GROUP ANNUAL REPORT 2000

STATEMENT BY THE CHAIRMAN     PRESIDENTIAL GREETING     REPORT OF THE BOARD OF DIRECTORS     THE BOARD OF DIRECTORS     AUDITORS' REPORT     CONSOLIDATED BALANCE SHEETS     CONSOLIDATED STATEMENTS OF INCOME     CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY     CONSOLIDATED STATEMENTS OF CASH FLOWS     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS     CONSOLIDATED BALANCE SHEET (HAS)     CONSOLIDATED STATEMENT OF PROFIT AND LOSS (HAS)     REPORT OF THE SUPERVISORY BOARD     THE SUPERVISORY BOARD     STRUCTURE OF DANUBIUS HOTELS GROUP     HOTELS IN HUNGARY     SPA, FITNESS & WELLNESS IN HUNGARY     HOTELS IN THE CZECH REPUBLIC     HOLIDAY IN MARIENBAD     TOURISM IN HUNGARY     2001 BUSINESS TARGETS     DANUBIUS QUALITY CONFERENCE

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