Hotel Properties Limited expects H1 net loss after negative impact from Middle East conflict
Borrowing costs remain elevated as a result of additional borrowings undertaken to fund new acquisitions
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[SINGAPORE] Hotel Properties Limited (HPL) said on Friday (Jul 31) that it is expected to report a net loss for its half year ended Jun 30.
This is mainly due to the adverse impact of the ongoing conflict in the Middle East on the operating performance of its hotels and resorts.
Borrowing costs also remained elevated, mainly as a result of additional borrowings undertaken to fund new acquisitions.
The company said further details of its financial performance will be furnished when it releases its unaudited financial results for H1 by Aug 14.
Shares of HPL closed 0.7 per cent or S$0.03 higher at S$4.60 on Friday before the news.
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