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GP Hotels Q3 profit down 30%
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Published Thu, Oct 29, 2015 · 09:50 PM
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Singapore
DRAGGED down in part by lower revenue amid a challenging operating environment, Global Premium Hotels reported a 30.1 per cent year-on-year slide in profit to S$3.57 million for the third quarter ended Sept 30.
A dip in tourist arrivals as well as downward pressure from additional supply in the hotel industry has affected occupancy rates and revenue per available room (RevPAR), the group highlighted.
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