Focusing on hotel operation and management, Sino Group achieved strong performance in a challenging market and was named Hong Kong's best hospitality developer.
Sino Group has approximately 12.9 million sq ft of attributable floor area of investment properties and hotels in mainland China, Hong Kong, Singapore and Sydney, Australia as of 30 June 2023.
Thanks to Hong Kong's large-scale events such as Art Basel and Rugby Sevens, financial summits and the gradual growth in tourism, hotel occupancy rates and room rates have both increased. Meanwhile, remaining vigilant on cost controls against the inflationary environment, and developing new strategies to enhance the quality of hotel services and improve efficiency, Sino Group is seeking opportunities to increase hotel business revenue in a challenging market.
The hotel revenue’s growth demonstrates Sino Group’s strategies over the past year have worked. In 2023, hotel revenue including attributable share from associates and joint ventures, was HK$1.527 billion ($0.19 billion) compared to HK$1.376 billion last year, a year-on-year increase of 11%.