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Global Premium Hotels 1Q earnings slip 5% to $3.2 mil

Jude Chan
Jude Chan5/8/2017 05:36 PM GMT+08  • 1 min read
Global Premium Hotels 1Q earnings slip 5% to $3.2 mil
SINGAPORE (May 8): Global Premium Hotels posted earnings of $3.2 million for the first quarter ended March, 4.9% lower from $3.4 million a year ago.
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SINGAPORE (May 8): Global Premium Hotels posted earnings of $3.2 million for the first quarter ended March, 4.9% lower from $3.4 million a year ago.

Group revenue in 1Q fell 3.8% to $14.0 million, from $14.5 million a year ago, mainly due to one hotel which had to close temporarily to facilitate asset enhancement works.

Administrative expenses of $6.9 million was 2.7% lower compared to a year ago, mainly due to decrease in staff costs, property tax, and lower repair and maintenance costs.

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