Hotel Properties Limited (HPL) has invested in a 30 per cent stake in a venture that is buying two prime properties in Southbank, central London, for £308 million (S$627 million), as the Singapore-listed hotel landlord and property developer expands its footprint in the British capital. In a regulatory filing with the Singapore Exchange on Saturday, HPL said its indirect wholly-owned subsidiary, HPL...
Hotel Properties Ltd (HPL)
The group making a takeover bid for Hotel Properties Ltd (HPL) has raised its offer price again. 68 Holdings - led by Singapore tycoon Ong Beng Seng and Wheelock Properties - is now offering S$4.05 for each HPL share, up from the previous S$4.00 a share. 68 Holdings had originally offered S$3.50 per share. This follows an agreement by 68 Holdings to buy 6.69 million HPL shares, representing 1.29...
Mainboard-listed Hotel Properties said its net profits fell 8.8 per cent on-year to S$9.8 million for the first quarter ended March 31. Its revenue edged up 0.5 per cent to S$120.1 million compared to the same period last year. The group said although its hotels in Singapore achieved higher occupancies, those in Bali and Maldives had lower room rates due to strong competition. Looking ahead, Hotel...
Mainboard-listed Hotel Properties has posted a 71.7 per cent drop in second quarter net earnings to S$4.4 million. Revenue for the period dropped 27 per cent to S$103.3 million as the firm's hotels and resorts' business was adversely affected by the global economic crisis. HPL, which owns hotels and properties in Thailand, said the situation there was further aggravated by political instability and the...