The improved world economy and the influx of mainland travellers boosted interim earnings of Miramar Hotel & Investment.
The hotel operator said net profit surged 64 per cent year on year to $158.63 million in the six months to September, while turnover was up a comparative 11 per cent at $742.38 million, leading the company to recommend an interim dividend of 15 cents per share.
The company saw business improve, thanks to the recovering world economy and the supportive policies towards Hong Kong from the central government.
'The job market in Hong Kong has stabilised and consumer confidence has improved,' the company said yesterday.
'The hotel business recorded a rather healthy growth. In addition, satisfactory land sales in the United States were realised.'
Revenue from hotel operations reached $139.5 million in the six months to September, up 43 per cent year on year, due to the increasing number of trade fairs and the influx of mainland tourists.