DORSETT HOSPITALITY INTERNATIONAL LTD Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in the Cayman Islands with limited liability) Website : http://www.dorsett.com
(Stock Code: 2266) Voluntary Disclosure Unaudited Operational Update for the Second Quarter ended 30 September 2014
The Board of Directors (the "Board") of Dorsett Hospitality International Limited (the "Company") is pleased to announce the unaudited operational update of the Company and its subsidiaries (the "Group") for the second quarter ended 30
September 2014 in respect of the financial year ending 31 March 2015 as follows:
30.9.2014 | 30.9.2013 | |
Hong Kong Occupancy rate | 95% | 95% |
Average room rate (HK$) | 891 | 886 |
RevPAR (HK$) | 847 | 840 |
China Occupancy rate | 58% | 50% |
Average room rate (HK$) | 562 | 573 |
RevPAR (HK$) | 328 | 285 |
Malaysia Occupancy rate | 60% | 68% |
Average room rate (HK$) | 543 | 502 |
RevPAR (HK$) | 324 | 342 |
Singapore Occupancy rate | 88% | 62% |
Average room rate (HK$) | 1,204 | 1,219 |
RevPAR (HK$) | 1,055 | 751 |
Group Total* Occupancy rate | 76% | 75% |
Average room rate (HK$) | 773 | 749 |
RevPAR (HK$) | 585 | 566 |
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Occupancy rate | 94% | 94% |
Average room rate (HK$) | 883 | 887 |
RevPAR (HK$) | 830 | 831 |
Occupancy rate | 57% | 51% |
Average room rate (HK$) | 565 | 594 |
RevPAR (HK$) | 323 | 301 |
Occupancy rate | 63% | 67% |
Average room rate (HK$) | 550 | 517 |
RevPAR (HK$) | 349 | 344 |
Occupancy rate | 77% | 59% |
Average room rate (HK$) | 1,230 | 1,228 |
RevPAR (HK$) | 949 | 728 |
Occupancy rate | 75% | 75% |
Average room rate (HK$) | 766 | 754 |
RevPAR (HK$) | 578 | 565 |
* To ensure the comparability of hotels operational results, the above highlights exclude results from hotels which did not fully operate during the periods under review for both current and last financial years. The hotels being excluded comprise Dorsett Tsuen Wan, Hong Kong, Lushan Resort and Dorsett Shepherds Bush, London.
For the quarter under review, the Group's average room rate ("ARR") increased by
3% year-on-year while the occupancy rate ("OCC") recorded a 1% point year-on-year increase. The Group's revenue per available room ("RevPAR") came in at HK$585, increased by 3% year-on-year, largely attributable to the Group's operations in China and Singapore.
For the quarter under review, the Group's operations in Hong Kong region recorded the same level of OCC as compared with the corresponding period of last financial year. The ARR increased by 1% year-on-year and as a result, RevPAR increased marginally by 1% year-on-year.
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For the quarter under review, our hotels in China continued to demonstrate improved performance with a year-on-year increase in OCC of 8% points. The ARR declined by 2% year-on-year and the RevPAR was up 15% compared to the same period of last year.
For the quarter under review, the Group's operations in Malaysia region was affected by the drop of long haul visitors and as a result recorded a decrease in OCC by 8% points year-on-year. The ARR increased by 8% year-on-year and the RevPAR decreased by 5% year-on-year.
Our hotel in Singapore continued to achieve remarkable growth for the quarter under review. OCC improved by 26% points year-on-year, ARR decreased by 1% year on year and RevPAR was up 40% compared to the same period of last year.
The Company maintains a cautiously optimistic outlook on the business performance in the near term and remains upbeat on the long term business performance given its proven business model and its "China Wallet" strategy.
By Order of the Board
Dorsett Hospitality International Limited CHIU, Wing Kwan WinniePresident and Executive Director
Hong Kong, 10 November 2014
As at the date of this announcement, the executive directors of the Company are Ms. CHIU, Wing Kwan Winnie and Mr. LAI, Wai Keung. The non-executive directors of the Company are Tan Sri Dato' CHIU, David, Mr. HOONG, Cheong Thard and Mr. CHAN, Chi Hing. The independent non-executive directors of the Company are Mr. SHEK, Lai Him Abraham, G.B.S., J.P., Mr. TO, Peter, Dr. LIU, Ngai Wing and Mr. ANGELINI, Giovanni.
This announcement was originally prepared in English and was subsequently translated into Chinese. In the event of any inconsistency between the two texts, the English text of this announcement shall prevail over the Chinese text.
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