Japan's Imperial Hotel logs record first-half profit

posted on October 25, 2015

Imperial Hotel on Friday reported its highest net profit for an interim half since switching to consolidated earnings in 2000, thanks to a sharp increase in guests from China and other parts of Asia.

The Japanese company said group net profit for the April-September period jumped 31% on the year to 1.1 billion yen ($9.02 million) on a 4% gain in sales to 26 billion yen.

At its flagship Tokyo location, average sales per room rose 12% to 32,908 yen amid an uptick in foreign visitors. This offset the impact of having to close some rooms for renovations.

Foreigners accounted for 42% of guests, of which about half were from the U.S. and Europe and the rest from Asia and elsewhere. Despite concerns that the number of visitors from China and other emerging nations may be affected by economic slowdowns at home, Director Tomoaki Miyashin said: "There have been no significant declines so far."

source by nikkei
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