KUALA LUMPUR: Exsim Hospitality Bhd said its improved first quarter results reflect its efforts to bring the company to profitability.
"Not only has the performance from our hotel division improved from higher occupancy rates but our Hospitality Operator Model has also begun contributing to the topline of our business.
"We believe that both these segments will continue to improve once our Corus Paradise Resort’s has completed its full renovation works and as we increase the number of managed properties under our hospitality operator model," said Exsim Hospitality managing director Tan Hai Liang in a statement.
The group reported a net loss of RM248,000 in the first quarter ended Sept 30, 2024, as compared to a net loss of RM848,000 in the year-ago quarter.
Revenue in the quarter under review rose to RM2.27mil from RM1.35mil in 1QFY24.
Exsim Hospitality underwent a change in ownership in March 2024, and has since expanded into the management of property units owned by third party owners which are subsequently rented out to guests for short-term stay.
According to the group, the business has already begun generating revenue of approximately RM280,000.
Meanwhile, the existing hotel business segment, which consists of Corus Paradise Resort in Port Dickson, achieved higher occupancy rates for the quarter contributing to an increase in revenue of approximately 32.7% from the immediate preceding quarter ended June 30, 2024.
