Hotel Properties' profit up 34.55% to $42.01m in Q3

Thanks to the sales from Tomlison Heights Development.

Hotel Properties' profit increased by 34.55% YoY to $42.01m in Q3 largely due to the completed condominium sales units from Tomlison Heights Development.

According to its financial statement, revenue similarly increased by 17.92% YoY to $165.09m due to increased revenue contribution from the company’s hotel and resorts in Bali, Indonesia and Maldives.

Sales costs correspondingly increased by 15% YoY to $124.56m.

Hotel Properties will continue to market the remaining units in Tomlison Heights, d’Leedon and Interlace in Singapore as it notes improving market sentiment towards residential properties.

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