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The latest update is out from Regal Hotels International Holdings Limited ( (HK:0078) ).
Regal Hotels International Holdings Limited has issued a profit warning, indicating an expected net loss of approximately HK$2,598 million for the year ending December 31, 2024, compared to a loss of HK$1,791.9 million the previous year. Despite a steady operation and a 10% increase in net hotel income, the company faces significant financial challenges due to high finance costs and a substantial fair value loss from its investment in Cosmopolitan International Holdings Limited. Additionally, depreciation charges on its hotel properties have adversely affected financial results, leading to an increased loss for the year.
More about Regal Hotels International Holdings Limited
Regal Hotels International Holdings Limited operates in the hospitality industry, primarily focusing on hotel management and ownership. The company, along with its subsidiaries, manages a portfolio of hotels in Hong Kong and has strategic investments in property businesses in China.
YTD Price Performance: -27.04%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €190.9M
Find detailed analytics on 0078 stock on TipRanks’ Stock Analysis page.