MIRAMAR HOTEL released its interim results, with shareholders' attributable profit of HKD 322 million, a year-on-year decrease of 13.67%
MIRAMAR HOTEL released its mid-term results for 2025, with a profit attributable to shareholders of HKD 322 million, a year-on-year decrease of 13.67%. Revenue was HKD 1.295 billion, a year-on-year decrease of 7.56%. The basic earnings per share were HKD 0.47, and an interim dividend of HKD 0.23 per share is proposed. Due to the impact of mainland outbound tourism policies, the Hong Kong hotel market is facing intensified competition and falling room prices. The group has adopted various marketing strategies to expand its customer base
According to the news from Zhitong Finance APP, MIRAMAR HOTEL (00071) released its mid-term results for 2025, reporting revenue of HKD 1.295 billion, a year-on-year decrease of 7.56%; the profit attributable to shareholders was HKD 322 million, a year-on-year decrease of 13.67%; and the basic earnings per share were HKD 0.47. A mid-term dividend of HKD 0.23 per share is proposed.
The announcement stated that in the first half of 2025, Hong Kong's tourism industry continued to rely on the mainland market. According to data from the Hong Kong Tourism Board, mainland visitors accounted for 75.0% of all visitors to Hong Kong, totaling over 17 million. However, influenced by the policies promoting outbound tourism from the mainland, international passenger flights by China's civil aviation increased by 28.4% year-on-year, reflecting a growing interest among mainland travelers in long-haul overseas tourism. This led to some travelers being diverted to other international destinations and a reduction in their length of stay in Hong Kong, resulting in a decline in the average daily room rate (ADR) in the local hotel market. Since January 1 of this year, the government has re-imposed a 3% hotel accommodation tax (HAT), further increasing the cost of accommodation in Hong Kong. Additionally, the U.S. tariff war has hindered global trade, significantly reducing the demand for business travelers from Hong Kong to the mainland, coupled with an increase in travelers' demand for personalized and high-end experiences, intensifying market competition. During the period, the group actively implemented various marketing strategies, including deepening cooperation with domestic and foreign travel agencies, promoting local tourism in regions such as Central China, Taiwan, Southeast Asia, and the Middle East, and launching a variety of travel packages to effectively expand its customer base
