Regal Hotels International Holdings Limited (HK:0078) has released an update.
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Regal Hotels International Holdings Limited reported a significant increase in losses for the first half of 2024, with a consolidated loss of HK$1,599.2 million, more than double the loss from the same period in 2023. Despite a steady operation of the hotel business in Hong Kong, high interest rates and a substantial fair value loss on investments, particularly in Cosmopolitan International Holdings Limited, exacerbated the financial results. These factors, along with depreciation charges on hotel properties, heavily influenced the interim financial performance without affecting immediate cash flow.
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