Formosa International Hotels experienced a prosperous third quarter, recording a total operating income of 1.63 billion yuan, marking a 10.66% annual increase. Key contributors include the revival of international business travel, flourishing domestic summer catering, and robust parent-child travel markets. The net profit after tax reached 321 million yuan, reflecting an 8.45% annual uptick, with earnings per share at 2.31 yuan. Cumulative revenue from January to September stood at 4.968 billion yuan, a substantial 26.22% YoY growth. The strong performance is attributed to recovery from the pandemic’s impact in the same period last year.
Looking ahead, the hotel group is optimistic about the traditional peak season in Q4, driven by Christmas and New Year holidays, projecting a continuation of the Mid-Autumn Festival and National Day consumption boom. The average hotel occupancy rate in December has already reached 85%, with expectations to surpass 90% as the holidays approach. Market analysts estimate a potential return to 10 yuan per share in profit for Formosa International Hotels this year.
The forthcoming Weiya Spring wine business is anticipated to provide a significant boost, with an optimistic reception in reservations, especially for weekdays. The group is implementing a strategy to balance quantity and price, focusing on attracting orders from the technology and financial industries. Simultaneously, the hotel chain remains committed to expanding its brand portfolio, with the Beitou Jingquan Hotel slated to open in Q3 next year.
