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Hotel Shilla_Hotel Shilla President Lee Boo-jin. (Photo=Hotel Shilla) |
[Alpha Biz= Reporter Paul Lee] Hotel Shilla reported that while its sales increased in the first quarter, profitability declined.
On the 30th, Hotel Shilla announced that its sales for the first quarter of 2024 amounted to 9,808 billion won, with an operating profit of 121 billion won, based on preliminary estimates. Compared to the same period last year, sales increased by 30%, while operating profit decreased by 65%.
The duty-free (TR) sector recorded sales of 8,307 billion won, with an operating profit of 59 billion won. Compared to the same period last year, sales increased by 37%, but operating profit decreased by 77%. The hotel & leisure sector achieved sales of 1,501 billion won and an operating profit of 62 billion won, with sales increasing by 5% but operating profit decreasing by 33%.
Hotel Shilla stated that although the recovery is slow, there is an ongoing atmosphere of overall normalization in the tourism industry.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
