SHANGRI-LA ASIA LIMITED Shangri-La Asia Ltd Business Update
20 December 2021
December 2021 Business Update
Mainland China hotels remained as main 2021 recovery driver
Operational Update
- A tale of two worlds - Zero-Covid (PRC) and endemic (rest of world)
- Mainland China hotels remain as bright spot for much of Group's recovery in 2021
- Though business impacted by sporadic local outbreaks
- Hong Kong remains steady supported by quarantine and domestic demand
- Rest of the world may see more volatility as they navigate around the endemic strategy, more uncertainties amid Omicron
- The Philippines, Malaysia and Thailand recently saw improvements as restrictions began to loosen
90% | Mainland China | Hong Kong | Philippines | Malaysia | Thailand | |
80% | ||||||
70% | ||||||
60% | ||||||
Occupancy | 50% | |||||
40% | ||||||
30% | ||||||
20% | ||||||
10% | ||||||
0% |
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2021 Interim Year Results
1H 2021 Results Highlights
Results highlights - 1H 2021 vs 1H 2020
USDmn | 1H 21 | 1H 20 | YoY (USDmn) | YoY (%) |
Consolidated revenue | 545.8 | 453.5 | 92.3 | 20.4% |
Eff. share of revenue | 798.2 | 622.4 | 175.8 | 28.2% |
Eff. share of EBITDA | 199.6 | 27.8 | 171.8 | 618.0% |
Operating PATMI | (118.1) | (255.4) | 137.3 | 53.8% |
Total PATMI | (59.8) | (282.6) | 222.8 | 78.8% |
Results summary
- Mainland China continues to be the bright spot for Group's recovery YTD June 2021
- Region's hotels achieved effective share of EBITDA of USD71.1mn (vs loss of USD19.0mn in 1H20)
- Hotel May 2021 performance above May 2019, though June slowed down partly due to Guangdong outbreak
- Investment Properties PATMI grew 1.8% YoY, continued to provide stable base for the Group
- HK hotels steady growth helped by staycation and quarantine, Australia by staycation
- Other regions remained challenging, especially given recent outbreak of delta variant
- Investment Properties fair value net gain of USD60.4mn mainly due to associate in Mainland China
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Shangri-La Asia Ltd. published this content on 23 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2021 06:26:04 UTC.
