MIRAMAR HOTEL(HK:00071)2025-04-24 09:02Financial Performance - The group's total revenue for 2024 was HKD 2,858 million, an increase of 12.0% compared to HKD 2,552 million in 2023[15] - Basic earnings attributable to shareholders rose by 1.2% to HKD 831 million in 2024, compared to HKD 821 million in 2023[10] - Basic earnings per share for 2024 was HKD 1.20, slightly up from HKD 1.19 in 2023[12] - The group received certifications for its hotels as Muslim-friendly, enhancing its competitive position in the market[19] - The hotel and serviced apartment business reported total revenue of HKD 597.4 million, an increase of 2.7% compared to HKD 581.9 million in the same period last year[28] - EBITDA for the hotel and serviced apartment business was HKD 139.9 million, a decrease of 8.8% from HKD 153.5 million in the previous year[28] - The group's food and beverage revenue increased by 3.9% to HKD 290.4 million, while EBITDA dropped by 62.4% to HKD 11.3 million[39] - The tourism business recorded a revenue of HKD 1.1794 billion, with EBITDA rising by 118.4% to HKD 102 million, marking a significant recovery from the previous year[43] - Rental income for the group was HKD 791.3 million, with an EBITDA of HKD 663.9 million, reflecting a slight decrease of 0.5% and 0.9% compared to the previous year[32] Tourism and Hospitality - The tourism segment saw a significant revenue increase of 31.6% year-on-year, contributing to the overall growth[19] - The average occupancy rates for The Mira Hong Kong and Moon Hotel exceeded 92% and 95% respectively, reflecting strong performance in the hotel sector[19] - The Mira Hong Kong and Moontide Hotel's occupancy rates increased to 92.1% and 95.4% respectively in 2024, compared to 89.8% and 95.0% in 2023; average room rates reached HKD 1,416 and HKD 1,636[30] - The group anticipates continued growth in the tourism sector due to increased airline capacity and rising outbound travel demand[44] Investment and Financial Strategy - As of December 31, 2024, the group's total cash was HKD 6 billion, an increase from HKD 5.6 billion on December 31, 2023, with no loans reported[47] - The total credit facilities granted to the group remained at HKD 900 million as of December 31, 2024, with no utilization reported[47] - The group's debt-to-equity ratio remained at zero, indicating a strong financial position with sufficient funds and credit facilities to navigate uncertain economic conditions[47] - The group continues to seek investment opportunities and increase financial asset investments, focusing on long-term holdings[47] - The group capitalized on the trend of U.S. interest rate cuts and the rise of the mainland stock market, achieving over HKD 60 million in profits from securities investments during the year[47] Sustainability and Environmental Initiatives - The group follows the ESG reporting principles of "materiality," "quantification," "balance," and "consistency" as per the Hong Kong Stock Exchange guidelines[70] - The company is implementing energy optimization measures, including upgrading lighting efficiency and integrating sustainable design principles into building projects[82] - A commitment to carbon neutrality has been established through participation in the "Starry Partnership" program, demonstrating the company's dedication to reducing its carbon footprint[83] - The group has established a "Mi Go Green" collaborative platform to promote sustainable living and reduce meat consumption, aiming for a greener lifestyle[113] - The "Mi Green Park" initiative, launched in collaboration with CLP Power, features 25 electric vehicle charging stations, including 7 kW AC and 120 kW DC fast charging options, contributing to reduced carbon emissions[114] - The company implemented energy-saving measures, reducing electricity consumption by over 9 million kWh[133] - The lighting system upgrades saved over 80% of electricity in certain areas, contributing to a "good" energy performance rating[134] Community Engagement and Social Responsibility - The group actively supports community development through the "Mira Care" platform, engaging in social services and charitable activities[143] - The group partnered with the Hong Kong Children’s Rescue Association to promote sustainable development through a special event for underprivileged families[153] - The group is committed to fostering young talent by providing internship opportunities at The Mira Hong Kong for students from the Hong Kong Student Aid Society[166] - The group has organized hotel tours and employment seminars for 43 secondary school students in 2024, aimed at increasing awareness of the hotel industry[186] - The group has collaborated with local organizations to host a "Minority Recruitment Day," providing employment opportunities for ethnic minorities[182] Employee Training and Safety - Over 18,000 hours of training provided to employees, both online and offline[67] - The company recorded 30 workplace accidents in the reporting year, a decrease of 14 incidents (32% drop) compared to 2023, resulting in a total of 639.5 lost workdays[198] - The total injury rate significantly decreased by 35% to 1.88% over the reporting period[198] - The company established an Occupational Safety and Health Committee in 2023, comprising senior management and representatives from all relevant business units[198] - The company emphasizes equal opportunity in hiring practices, ensuring that applicants are not required to disclose unrelated personal information[195]