Hotel Properties sees flat 1Q earnings of $14.3 mil

SINGAPORE (May 12): Hotel Properties Limited (HPL) reported 1Q earnings of $14.34 million, or 2.32 cents per share, up slightly from $14.3 million a year ago.

Revenue fell from $158.85 million to $143.67 million, weighed down by lower contributions from the Tomlinson Heights condominium development and the group's resorts in the Maldives.

Four Seasons Resort Bali at Jimbaran Bay, which is undergoing a major refurbishment, has affected its performance while Holiday Inn at Vanuatu was also closed for repair since the cyclone in March last year, said HPL.

---

Related Stories

• HPL buys Concorde Hotel & Shopping Mall for $821 mil in largest en bloc deal of 2024
• HPL redeveloping northwest Orchard Road
• HPL back in the black for FY2022 with earnings of $76.4 million

---