Due to Increased Domestic Hotel Demand... Paradise Reduces Q2 Operating Loss by 25%
[Asia Economy Reporter Jeon Jinyoung] Paradise announced on the 10th that its operating loss in the second quarter decreased by 24.7% year-on-year to 20.638 billion KRW.
According to Paradise on the day, sales increased by 24.3% to 105.218 billion KRW, and net profit for the period decreased by 53.8% to 10.825 billion KRW. Paradise Hotel Busan achieved its highest-ever second-quarter sales of approximately 25.7 billion KRW.
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A representative of Paradise Hotel & Resort said, "Domestic demand for luxury hotels surged, resulting in strong growth in the second quarter this year, and both Paradise City and Paradise Hotel Busan recorded their highest-ever sales for the second quarter," adding, "In the third quarter, strong performance is expected due to casino sales recovery and continued domestic staycation demand during the summer peak season."
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