Tourism Normalization... Hotel Shilla 1Q Operating Profit 34.5 Billion KRW, Up 128%

Efforts to Improve TR Profitability
Sales 752.1 Billion Won...31.3% Decrease

Hotel Shilla announced that its consolidated operating profit for the first quarter of this year reached 34.5 billion KRW, marking a 128.0% increase compared to the same period last year. During the same period, sales decreased by 31.3% to 752.1 billion KRW. Net profit turned positive, reaching 53.2 billion KRW.

As the normalization of the tourism industry continues, it is analyzed that efforts to strengthen profitability, especially centered on the duty-free (TR) sector, have led to improvements in operating profit. The TR sector improved profitability by continuing efforts across the industry to normalize market conditions through the restoration of commission fees for Chinese peddlers (ttaigong). However, this resulted in a decrease in sales. The hotel & leisure sector is also maintaining strong performance, with both sales and operating profit increasing compared to last year despite the off-season.

A Hotel Shilla representative stated, "We will focus on sound management by promptly responding to changes following the normalization trends of domestic and international travel and tourism."

Seoul Shilla Hotel exterior view
[Photo by Hotel Shilla].

This content was produced with the assistance of AI translation services.