Home Capital Results

Global Premium Hotels posts 8.5% fall in earnings to $3.2 mil in 3Q

Benjamin Cher
Benjamin Cher11/3/2016 06:05 PM GMT+08  • 1 min read
Global Premium Hotels posts 8.5% fall in earnings to $3.2 mil in 3Q
SINGAPORE (Nov 3): Global Premium Hotels posted a 8.5% fall in earnings to $3.2 million in 3Q16 from a year ago on the back of lower revenue.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 3): Global Premium Hotels posted a 8.5% fall in earnings to $3.2 million in 3Q16 from a year ago on the back of lower revenue.

Revenue fell 6.3% to $15.2 million. Revenue from hotel room fell 6.3% to $15 million due to lower revenue recognized from most of its hotels including those closed temporarily floor by floor for asset enhancement works.

Rental income fell 8.2% to $256,000 due to expiring and change of certain tenancies of commercial units in one hotel premises.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now