Thai political crisis hits Banyan Tree, 4Q profits down 27%
Published on Feb 27, 2014 1:04 PM
Fourth quarter earnings at Banyan Tree Holdings fell 27 per cent as income from its Thai resorts were hit by the political crisis there.
Net profit for the three months to Dec 31 were $3.66 million, down from $5 million a year ago. Revenue was just about flat at $97.91 million, from $97.46 million a year earlier.
The political rallies began in November last year in Bangkok, said Banyan Tree.
"Many countries have issued travel advisories to Thailand which impacted the tourist arrivals," the company added in its results announcement.
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