Higher occupancy lifts Shangri-La earnings in Q1

KUALA LUMPUR: Shangri-La Hotels (Malaysia) Bhd says the positive momentum in the leisure and tourism market is expected to lift the group’s results this year after first quarter earnings jumped.

“The group’s hotels and resorts are in a strong position to benefit from these trends,” it said in a filing with Bursa Malaysia today.

Net profit in the three months ended March 31 climbed 32% to RM25.5mil from a year ago as revenue rose 16% to RM151mil.

The improved performance, Shangri-La said, were driven by higher average room rates and occupancies at its hotels.

Corporate News , Shangri La Hotels