During the period, total costs and expenses increased by 10% y-o-y to $253.4 million, thanks to higher other operating expenses, sales and marketing expenses, administrative expenses, salaries and related expenses, as well as cost of operating supplies.
With economies opening up and international travel resuming, hotel operator Banyan Tree Holdings (SGX:B58
) is seeing a pick up. For its FY2022 ended Dec 31, 2022, the group recorded earnings of $767,000, compared to a loss of $55.2 million in FY2021.
This comes on the back of a 23% y-o-y increase in revenue to $271.3 million from $221.2 million a year ago.
