The hotels investments segment, too, contributed to the higher group revenue over the quarter, and mainly comprised income from hotels in Thailand in Seychelles, boosted by the opening of Cassia Bintan to paying guests in Sept 2017.
SINGAPORE (Feb 27): Banyan Tree Holdings reported earnings of $3.9 million for the quarter ended Dec 2017, down by more than half of the $8.5 million posted in the same period a year ago on higher expenses.
Revenue for the quarter grew 9% to $88.9 million due to higher revenue from the group’s property sales segment on the back of higher recognition from Laguna Park townhomes/villas, along with the completion of Cassia Phuket Phase 2 condominiums over 4Q.
