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Hotel Properties reports 27% rise in FY16 earnings from gain on disposal

PC Lee
PC Lee2/27/2017 10:14 PM GMT+08  • 1 min read
Hotel Properties reports 27% rise in FY16 earnings from gain on disposal
SINGAPORE (Feb 27): Hotel Properties recorded a 27% rise in FY16 earnings to $103.5 million from a year ago.
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SINGAPORE (Feb 27): Hotel Properties recorded a 27% rise in FY16 earnings to $103.5 million from a year ago.

The bottomline was lifted by a gain on disposal of two plots of land in Bangkok, Thailand, which increased other operating income to $62 million from $22.3 million a year ago.

Revenue fell 0.3% to $577.6 million, dragged down by lower contribution from the hotels and resorts, particularly those in the Maldives, which were affected by softer demand and on-going refurbishment works.

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