Banyan Tree widens losses on weaker hotel, property business

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

España Noticias Noticias

España Últimas Noticias,España Titulares

Banyan Tree widens losses on weaker hotel, property business.

RESORT operator Banyan Tree Holdings sank further into the red on Wednesday, posting losses of S$7.9 million for the second quarter, versus S$5.4 million a year ago.

This came as revenue slid 24 per cent to S$51.8 million, dragged by a sluggish hotel business and fewer property sales recognised. Hotel investments - which generate more than half of Banyan Tree's revenue - saw a 13 per cent drop in revenue to S$33.6 million, due to weaker performance in Seychelles and Thailand.

Revenue from property sales tanked 70 per cent at S$4.5 million, as sales of properties like Cassia Phuket and Laguna Park are only expected to be recognised in the fourth quarter when construction is completed.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 15. in ES
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

España Últimas Noticias, España Titulares