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Sino Hotels (Holdings) Ltd. ( (HK:1221) ) has provided an update.
Sino Hotels reported a net profit of HK$43.5 million for the six months ending December 2024, up from HK$28.8 million in the previous year, despite a decline in turnover to HK$61.3 million. The company declared an interim dividend of HK1.5 cents per share, maintaining the same rate as last year. The hospitality industry in Hong Kong is experiencing a resurgence in international travel, with a 31% increase in tourists in 2024. However, changing consumer behaviors, such as a preference for short-haul travel and last-minute bookings, are affecting room rates. Sino Hotels is adapting by optimizing services and focusing on cost control and efficiency to maintain profitability.
More about Sino Hotels (Holdings) Ltd.
Sino Hotels (Holdings) Limited operates in the hospitality industry, managing a portfolio of hotels including City Garden Hotel, Conrad Hong Kong, and The Royal Pacific Hotel & Towers. The company focuses on providing accommodations for both business and leisure travelers, with a significant market presence in Hong Kong.
YTD Price Performance: -6.04%
Average Trading Volume: 21,899
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$1.63B
Find detailed analytics on 1221 stock on TipRanks’ Stock Analysis page.