Corporate digest

Hotel Properties

HOTEL Properties Limited (HPL) reported a net profit of S$14.34 million for the first quarter ended March 31, 2016, rising slightly from S$14.3 million a year ago.

Revenue fell from S$158.85 million to S$143.67 million due to lower contributions from the Tomlinson Heights condominium development and the group's resorts in the Maldives. Four Seasons Resort Bali at Jimbaran Bay, Bali, is undergoing a major refurbishment, which has hit its performance; Holiday Inn at Vanuatu has been closed for repairs since the cyclone in March last year, said HPL.