Hong Kong hotel operator and landlord Great Eagle Holdings said core earnings jumped 21.09 per cent to HK$512.1 million in the first half on a buoyant commercial property market. The firm proposed a special interim dividend of HK$2.70 per share and declared an interim dividend of 20 HK cents per share, up from 15 cents. Profit was largely driven by 16.1 per cent growth in net rental income to HK$240.6 million on improved expense ratios and higher occupancy. Operating profit of the hotel business slumped 82 per cent to HK$54.38 million on a slower global economy, renovation works and rebranding expenses. Including revaluation gains from investment properties, net profit fell 78.8 per cent to HK$129.9 million from HK$613.8 million. Turnover rose 22 per cent to HK$2.44 billion.