Slight dip in room revenue at Shangri-La Asia's Singapore hotels

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 Wednesday.

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

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.

Net fair value gains on investment properties in 2014 was US$90.6 million, compared to US$398.7 million in 2013.

Earnings per share was 5.77 US cents, down from 12.57 US cents a year earlier.

A final dividend of HK6 cents per share was declared, to be paid in June 2015. With the interim dividend of HK6 cents per share paid in October 2014, the total dividend for the year is HK12 cents per share.