Glonghui, March 19 | Miramar Hotel (00071.HK) announced that for the full year of 2023, group revenue rose 84.7% to HK$2,552.6 million (2022: HK$1,382.2 million); profit attributable to shareholders was approximately HK$977.1 million (2022: HK$408.1 million), up 103.5% year-on-year; earnings per share and underlying earnings per share were HK$1.41 (2022: HK$0.69) and HK$1.19 (HK$0.76), respectively; The recommended final dividend is HK$30 cents per share (2022: HK$29), and the annual dividend is HK$53 per share (2022: HK$50), to be paid in cash.

After more than three years of anti-epidemic efforts, the COVID-19 pandemic has finally come to an end. The Hong Kong Government lifted all epidemic prevention measures and resumed full customs clearance in early 2023, bringing significant improvements to Hong Kong's tourism and hospitality industry. However, since passenger traffic in Hong Kong's aviation industry had only recovered to 80% before the outbreak by the end of 2023, the Pearl River Delta cross-boundary bus service also recovered by only 30% to 50%, which directly affected the increase in the occupancy rate of long- and short-haul travelers in the hotel industry. Fortunately, the Hong Kong section of the High Speed Rail resumed operation in early 2023. The passenger capacity in November of the same year reached 17 million, surpassing the number of passengers for the whole of 2019.

The Group seized the opportunity to shift its promotion focus from international passengers at the airport to medium- and long-distance mainland travelers by high-speed rail, and launched a series of sales measures for independent travelers and high-speed rail travelers at The Mira Hong Kong and Wenyue Hotel, which successfully attracted commercial groups and individual travelers from various mainland provinces to stay, leading to steady growth in the occupancy rate and banquet business of the two hotels in 2023.