Hotel Royal Q3 bottom line up 29%

HOTEL Royal's net profit for the third quarter ended Sept 30 rose 29 per cent year on year to S$2.88 million, in line with higher revenue and lower tax expenses.

Revenue was 4 per cent higher at S$15.7 million mainly due to higher contribution by Hotel Royal Bangkok@Chinatown which resulted from higher room revenue and higher food and beverage sales.

Earnings per share increased to 3.44 Singapore cents from 2.66 Singapore cents a year ago.

"In view of the highly competitive hospitality industry in Singapore, Malaysia and Thailand, the group expects to meet more challenges ahead," it said. "Going forward, we will continue to explore opportunities to deepen our presence in the existing markets, enhance our hotel assets and monitor our room occupancy and room rates, in order to enlarge our asset base, customer base and market share."