Post-2022 Profitability RecoverySince 2022 the company returned to sustained profits and rising revenue through 2023–2025, demonstrating durable recovery of core hotel, wedding and leisure demand. This supports longer-term earnings stability, improved pricing power and operating leverage versus pandemic-era losses.
Improved Cash GenerationOperating and free cash flow strengthened materially in 2023–2025, with a notable free cash flow jump in 2025. Strong cash conversion improves capacity to fund maintenance capex, repay debt, and reinvest in properties—key for sustaining competitive operations in hospitality over the medium term.
Deleveraging TrendTotal debt declined and equity expanded from 2022–2025, marking meaningful deleveraging. A healthier balance sheet increases financial flexibility, reduces refinancing strain in cyclical troughs, and enables targeted renovations or strategic investments that preserve market positioning.