Hotel Properties’ profit plummets 95% in FY2024

The company said it was due to higher finance costs and fair value loss.

Hotel Properties’ net profit attributable to shareholders sank 95% year-on-year to $27.2m during the financial year 2024, down from $561m in the previous year.

The company said it was due to higher finance costs and fair value loss of the company’s London properties.

Revenue was 7.9% higher year-on-year to $692.9m driven by the opening of Six Senses Kanuhura in late 2023 and Four Seasons Hotel Osaka in August 2024.

Moreover, the group generated an operating profit of $180.4m, 23% higher than the previous year.

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