Associated hotels in 8.6pc lift

PUBLISHED : Tuesday, 29 June, 1993, 12:00am
UPDATED : Tuesday, 29 June, 1993, 12:00am

ASSOCIATED International Hotels recorded an attributable profit of $137.39 million for the year to March 31, an increase of 8.6 per cent over the previous year.

Earnings per share were 38 cents, compared with the previous year's 35 cents.

The directors recommended a final dividend of 11.5 cents a share which, together with the interim dividend of five cents a share, make a total dividend of 16.5 cents.

The increase in profit was due mainly to an improved contribution from the operation of the Hyatt Regency Hotel.

Rental income from the Hyatt Regency's shopping arcade was $98.5 million, about 3.3 per cent higher than in the previous financial year.

Average room rate at the hotel was $905, representing an increase of 9.5 per cent over the previous financial year.