SHUNHO HOLDINGS released its 2024 annual performance, with a loss attributable to shareholders of HKD 166 million, an increase of 269.7% year-on-year
SHUNHO HOLDINGS released its 2024 annual results, with a loss attributable to shareholders of HKD 166 million, an increase of 269.7% year-on-year. Total revenue was HKD 684 million, a year-on-year increase of 12.9%. Hotel operating costs surged by 29%, mainly due to increases in employee numbers, salaries, and cleaning costs, as well as additional operating months for the Glamour Bay Hotel and the renovated Shanghai Huamei International Hotel. The group's average hotel occupancy rate exceeded 90%, and hotel revenue increased by 14% to HKD 556 million
According to the Zhitong Finance APP, SHUNHO HOLDINGS (00253) announced its annual performance for the year ending December 31, 2024, with total revenue of HKD 684 million, a year-on-year increase of 12.9%; the loss attributable to shareholders was HKD 166 million, a year-on-year increase of 269.7%; basic loss per share was HKD 0.6884.
The announcement stated that the significant increase in hotel operating costs (29%) was primarily due to the rise in necessary employee numbers, salaries, cleaning, and laundry costs, as well as the additional operating months of the Glamorous Bay Hotel and the renovated Shanghai Huamei International Hotel.
During the year, the group's average hotel occupancy rate continued to exceed 90%. Compared to the previous period, the group's hotel revenue increased by 14% to HKD 556 million, while the group's total revenue increased by 13%
