Maintaining an upward trend, Minor Hotel Group (MHG) has recorded an impressive 38 per cent rise in its net profit during the year 2015, with the group owing the increase mainly on account of the enhanced show put by Oaks Hotels & Resorts.
Among others, a noticeable rise in real estate revenue and revaluation gains of Baht670 million from bus acquisitions pertaining to the Sun International and Oaks Elan Darwin dealings are also attributed as reasons for the good performance during the year bygone.
The profits registered by MHG, with a portfolio of 145 hotels, resorts and suites in as many as 22 countries spread across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, assumes significance in the wake of a host of factors such as poor economic environment, fluctuations in currency, uncertain political situation and other incidents like the Bangkok bombing.
The effective cost controls at operating as well as financial levels led to the formidable show by Oaks in 2015.
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Minor Hotel Group sees profits rise after Oaks acquisition