MIRAMAR HOTEL(HK:00071) 智通财经网·2025-08-19 15:08Core Viewpoint - The company reported a decline in revenue and profit for the first half of 2025, attributed to increased competition and changing travel patterns among mainland Chinese tourists [1] Financial Performance - Revenue for the first half of 2025 was HKD 1.295 billion, a decrease of 7.56% year-on-year [1] - Shareholders' profit attributable to the company was HKD 322 million, down 13.67% year-on-year [1] - Basic earnings per share were HKD 0.47, with an interim dividend proposed at HKD 0.23 per share [1] Industry Context - The Hong Kong tourism industry heavily relies on the mainland market, with mainland visitors accounting for 75.0% of total arrivals, totaling over 17 million [1] - The increase in international flights from mainland China, up 28.4% year-on-year, indicates a growing interest in overseas travel, leading to a diversion of some tourists away from Hong Kong [1] - The average daily room rate (ADR) in the local hotel market has declined due to these factors [1] Market Challenges - The reintroduction of a 3% hotel accommodation tax since January 1 has raised accommodation costs for visitors [1] - The ongoing US-China trade tensions have significantly reduced the demand for business travelers from Hong Kong to mainland China [1] - There is an increasing demand for personalized and high-end experiences among travelers, intensifying market competition [1] Strategic Initiatives - The company has implemented various marketing strategies, including deepening partnerships with domestic and international travel agencies [1] - Efforts to promote travel packages in regions such as Central China, Taiwan, Southeast Asia, and the Middle East have been initiated to effectively expand the customer base [1]