Shangri-La Asia’s Singapore hotels profit down by 53.9% to $180.9m in 2014

SINGAPORE:  Shangri-La Asia’s overall weighted average daily rate (ADR) of its Singapore portfolio fell 3 per cent for the year ended Dec 31, the company said on here the other day.

The segment also recorded a marginal decrease of 1 per cent in the weighted average revenue per available room (RevPAR).

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RevPAR and occupancy rose at The Shangri-La Hotel, Singapore and The Shangri La’s Rasa Sentosa Resort and Spa, but ADR declined at Hotel Jen Tanglin Singapore.

Overall profit fell 53.9 per cent to US$180.9 million for the year (S$250 million), mainly caused by the reduction of the share of net fair value gains of investment properties owned by the group and associates, it said.