Hotel Portfolio and Management - The Langham Hospitality Investments focuses on owning and investing in a portfolio of hotels, primarily in Asia, with a current portfolio including The Langham Hong Kong, Cordis Hong Kong, and Eaton HK[4]. - The Langham Hong Kong has 498 rooms and is rated as a premium hotel by the Hong Kong Tourism Board, located in a prime shopping and cultural area[7]. - Cordis Hong Kong features 669 rooms and is also rated as a premium hotel, situated near popular markets and public transport, enhancing its appeal to both local and international guests[9]. - Eaton HK, rated as a high-end hotel, has 465 rooms and underwent significant renovations in 2018 to cater to the millennial traveler, focusing on cultural and community themes[14]. - The group is managed by Langham Hospitality Group, which operates 26 hotels across four continents, with over 15 projects in various stages of development in China, Southeast Asia, Australia, and North America[29]. - The company has a total of 26 hotel properties, with three currently owned in Hong Kong[35]. - The company is managed by Langham Hospitality Investments Limited, which acts as the trustee-manager[39]. - The company’s main operating location is in Wan Chai, Hong Kong[42]. - The company’s shares are listed on the Hong Kong Stock Exchange under the stock code 1270[42]. Financial Performance - Hotel portfolio revenue increased by 28.1% to HKD 753.1 million in 2021 from HKD 587.9 million in 2020[54]. - Trust group's total rental income after service fees rose by 7.7% to HKD 224.3 million, compared to HKD 208.3 million in the previous year[54]. - Distributable income surged by 1541.7% to HKD 98.5 million, up from HKD 6.0 million in 2020[54]. - Net profit attributable to unit holders, excluding fair value changes of investment properties and derivative financial instruments, increased by 432.3% to HKD 66.8 million from a loss of HKD 20.1 million in 2020[54]. - Average revenue per available room (RevPAR) increased by 38.8% for the full year, significantly higher than the 6.4% increase in the first half of 2021[58]. - Total revenue from food and beverage operations grew by 51.4% year-on-year, with a 20.9% increase in the first half of 2021[61]. - The total value of the hotel portfolio was HKD 14,407 million as of December 31, 2021, down from HKD 14,802 million at the end of 2020[63]. - The net asset value per unit was HKD 2.41 as of December 31, 2021, compared to HKD 2.52 a year earlier[63]. - The trust group recorded a loss attributable to unitholders of HKD 346.6 million in 2021, a decrease of 87.8% from a loss of HKD 2,832.8 million in 2020[89]. Dividend Policy - The company reported a final dividend of HKD 0.027 per unit for the year ended December 31, 2021, resulting in a dividend yield of 3.2% based on the closing price of HKD 0.84 per unit on December 31, 2021[46]. - The trust group's policy is to distribute not less than 90% of its distributable income to unit holders, with a distribution rate of 90% for the year 2020[46]. - The company did not declare an interim dividend for the six months ended June 30, 2021, similar to 2020[46]. - The company has scheduled its annual general meeting for May 12, 2022, to approve the proposed final dividend[43]. - The trust group's policy is to distribute at least 90% of the total distributable income, resulting in a distribution of HKD 88.7 million for 2021, with a per unit distribution of HKD 0.027[102]. Strategic Focus and Future Outlook - The company aims to expand its presence in major cities in Asia and North America through new hotel openings and transformations[30]. - The strategic focus includes enhancing guest experiences and expanding market reach through targeted renovations and new developments[30]. - The company is positioned to capitalize on the growing demand for luxury accommodations in key urban markets[30]. - Future outlook includes plans to expand into new markets, targeting a 15% increase in market share over the next two years[130]. - The company is investing in new product development, with a budget allocation of $50 million for technology upgrades in hotel management systems[130]. - The company has identified potential acquisition targets in the Asia-Pacific region to enhance its portfolio, aiming for a 10% increase in asset value through strategic acquisitions[130]. Sustainability Initiatives - The management team emphasizes a commitment to sustainability, with plans to reduce carbon emissions by 30% by 2025[130]. - The company aims to achieve net-zero emissions by 2045 as part of its climate leadership strategy[152]. - The company has identified eight implementation pathways to drive impact and has set clear directions and objectives for each pathway[152]. - The company emphasizes the importance of sustainable dining options, promoting plant-based menu choices to contribute significantly to environmental efforts[152]. - The company’s environmental, social, and governance (ESG) report adheres to the Hong Kong Stock Exchange's guidelines, covering all properties under its comprehensive operations[155]. - The company’s sustainability initiatives are closely linked to its hotel operations through its corporate social responsibility program, CONNECT[156]. - The company focuses on energy and water conservation, waste management, and addressing climate change as part of its environmental efforts[157]. - The company has signed a 4-year sustainable development-linked loan agreement totaling HKD 7.5 billion with 11 banks across the UK, China, Hong Kong, Japan, and Singapore, marking the first such loan in the Asian hotel industry[165]. Community Engagement - The hotels are actively involved in community service, supporting those affected by the COVID-19 pandemic in Hong Kong[198]. - The Hong Kong Langham Hotel provided 125 pink afternoon teas to healthcare workers at six COVID-19 community testing centers on International Day of Happiness[199]. - The hotel collaborated with Sister Bento to create the Giftntake project, facilitating the donation of non-perishable items to low-income single mothers and children in Jordan and Sham Shui Po[200]. - The Hong Kong Cordis Hotel donated 100 nutritious meal boxes weekly to the homeless in collaboration with the Yau Ma Tei Gospel Hall, sharing warmth and meals with local residents during the pandemic[200].
朗廷(01270) - 2021 - 年度财报