Hong Kong & Shanghai Hotels Profit Up 31%

26th August 2010 (Last Updated August 26th, 2010 18:30)

Hong Kong & Shanghai Hotels has reported a net profit of HK$605m ($77m) during the first half of 2010, up 31% compared with the corresponding period in 2009. The Hong Kong-based group reported a revenue of HK$2.18bn ($280m) against HK$1.96bn ($252m) last year, with the hotel div

Hong Kong & Shanghai Hotels has reported a net profit of HK$605m ($77m) during the first half of 2010, up 31% compared with the corresponding period in 2009.

The Hong Kong-based group reported a revenue of HK$2.18bn ($280m) against HK$1.96bn ($252m) last year, with the hotel division accounting for 87% of the increase.

The group operates nine hotels consisting of 3,000 rooms worldwide.

Its revenue per available room rose 25% in Hong Kong, 26% in the rest of Asia and 21% in the US.