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Regal Hotels Reports Increased Losses Amidst Steady Hotel Operations

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Regal Hotels Reports Increased Losses Amidst Steady Hotel Operations

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Regal Hotels International Holdings Limited ( (HK:0078) ) has shared an announcement.

Regal Hotels International Holdings Limited announced a consolidated loss of HK$2,597.8 million for the year ending December 31, 2024, a significant increase from the previous year’s loss. This was largely due to high finance costs, fair value and impairment losses on properties and financial assets, and depreciation charges. Despite these challenges, the company’s hotel operations in Hong Kong showed steady performance, with a 10.1% increase in net hotel income and a 30.9% rise in revenue per available room at the Regala Skycity Hotel. The strategic location of Regala Skycity Hotel at Hong Kong International Airport is expected to contribute to substantial recurring revenues as the area develops.

More about Regal Hotels International Holdings Limited

Regal Hotels International Holdings Limited operates in the hospitality industry, focusing on hotel development and management. The company primarily offers hotel services and accommodations, with a significant presence in Hong Kong.

YTD Price Performance: -27.04%

Technical Sentiment Signal: Buy

Current Market Cap: €188.4M

See more data about 0078 stock on TipRanks’ Stock Analysis page.

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