Gelonghui, March 22丨Shangri-La (Asia) (00069.HK) announced the final results of 2023. The consolidated revenue for the year ended December 31, 2023 was US$2,141.8 billion, an increase of 46.5% over the previous year. Actual accrued revenue was US$2,769.2 billion, up 44.6% year over year. The recovery in the hotel business was mainly driven by mainland China and Hong Kong after the blockade was lifted in early 2023, while hotels in other parts of the world continued to experience strong travel demand.
The actual profit due in 2023 before interest, taxes, depreciation, amortization and non-operating projects was US$873.6 million, an increase of 97.8% year over year. This is the result of the cost efficiency of hotel management services and overall business recovery. Profit attributable to company owners before accounting for non-operating projects in 2023 was US$129 million, an improvement of US$290.6 million compared with a loss of US$161.6 million in 2022. This was mainly driven by a strong recovery in the hotel business. Overall, the profit attributable to company owners after accounting for non-operating projects in 2023 was US$184.1 million, compared to a loss of US$158.5 million in 2022. Due to positive free cash flow and stable business, dividends of HK15 cents per share were resumed, totaling approximately US$70 million.