Singapore Stock Market News
Global Premium Hotels (GPHL) - 1Q12 Results
StockFanatic
Publish date: Tue, 15 May 2012, 04:28 PM
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Strong performance''
GPHL, the owner and operator of the second-largest economy-tier hotel chain in Singapore, registered a 47% YoY jump in net profit (excluding revaluation of properties) to S$6.4m on the back of a 29% growth in revenue to S$14.9m. Part of the increase was due to the additional revenue contribution from three hotels, namely, Fragrance Hotel-Elegance, Fragrance Hotel-Riverside and Parc Sovereign Hotel (the only mid-tier hotel in the portfolio).''
Revenue per available room (RevPAR) grew from S$76 for 1Q11 to S$91 in 1Q12 (+20% YoY). Despite the fact that the first quarter of the calendar year is generally the weakest for the local tourism industry while the forth quarter tends to be the strongest, 1Q12 RevPAR was approximately 3% more than that for 4Q11 (based on management's estimate).''
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