Hotel Grand Central Ltd reported a net loss of S$27.46 million for the year ended 31 Dec 2025, widening from a S$13.99 million loss a year earlier, after booking a S$36.27 million revaluation deficit on its new Auckland hotel and a S$12.40 million fair-value loss on investment properties.

Group revenue inched up 3.6% year-on-year (YoY) to S$145.60 million as stronger contributions from Australian and Singapore hotels offset softer trading in New Zealand and China. Loss per share deepened to 3.71 Singapore cents from 1.89 cents. The board has proposed an unchanged final cash dividend of 1.5 Singapore cents a share; payment and book-closure dates will be announced later.

By geography, Australia remained the largest contributor, generating S$85.61 million in revenue, up 3.6% YoY and delivering a pre-tax profit of S$11.41 million. Singapore added S$28.46 million in sales (up 3%), but posted a marginal S$0.23 million loss. Malaysia contributed S$0.37 million in revenue and S$4.31 million in pre-tax profit, while China’s revenue slipped to S$0.32 million with a S$1.03 million loss. New Zealand revenue increased 5.4% to S$30.85 million following the first full-year contribution from the group’s new Auckland hotel, yet the segment booked a S$48.06 million pre-tax loss after the asset revaluation charge.

Operating costs rose modestly: staff expenses climbed 2.6% to S$51.09 million, while hotel operating expenses advanced 2.5% to S$57.94 million amid higher utility and labour costs. Depreciation and amortisation held steady at S$23.15 million. Net finance costs grew to S$3.31 million as interest rates stayed elevated, and interest income from fixed deposits fell 20% to S$9.08 million following lower market yields.

The company ended December with S$318.0 million in cash and fixed deposits, up from S$296.7 million a year earlier, reflecting positive operating cash flow of S$34.60 million. Net borrowings eased to S$63.03 million, helped by a weaker New Zealand dollar at year-end. The foreign-currency translation reserve narrowed slightly after the Australian dollar firmed against the Singapore dollar.

Looking ahead, the board cautioned that trading conditions remain “challenging” for 2026. Management cited rising operating costs, labour shortages, sustained high interest rates and uneven demand recovery—particularly in New Zealand—as key risks. Nonetheless, the group will focus on cost discipline, asset optimisation and capturing demand in stronger markets such as Australia and Singapore while monitoring currency volatility.