Published:
Hotel Prop tumbles down with 81% less profits in 2Q
Revenue dipped as well.
Hotel Properties Limited (HPL) remains a silent player due to the absence of contributions from its Tomlinson Heights condominium.
An OCBC report indicates that the condominium achieved TOP over in 1Q14 and lower share of results from associates and JV.
HPL’s hotel and resorts division remained stable, and reported a stable contribution versus 2Q13.
In terms of the company’s top line, 2Q14 revenue dipped 22% to $122.0 million, again due to the impact from Tomlinson Height’s TOP earlier this year.
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