The Hongkong and Shanghai Hotels (HKG:0045) expects an attributable loss of between HK$200 million and HK$900 million for the year 2024, compared with an attributable profit of HK$146 million a year prior, a Friday filing with the Hong Kong bourse said.
The hotel operator attributed the anticipated swing to loss mainly to an increase in depreciation and net financing charges, a turn to revaluation loss on investment properties, and an impairment provision of HK$160 million on the investment in The Peninsula Yangon project.
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