Resort operator hurt by political situation in Thailand, H1N1 outbreak
BANYAN Tree Holdings has reported a loss attributable to shareholders of $4.2 million for the second quarter ended June 30 – down from a $3.5 million profit a year back – as the unstable political situation in Thailand was compounded by the H1N1 flu outbreak and economic weakness.
But the resort operator expects a better performance for the second half-year.
Second-quarter revenue fell 44 per cent to $59.8 million on lower contributions from some business segments.
Revenue from hotel investment dropped 15 per cent to $32.4 million year on year, as resorts in Thailand and the Maldives reported lower Continue reading
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