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Upscale hotel group New Century reports a 144.1% jump in EBITDA

2020/3/22 22:06:01
Zhejiang New Century Hotel Management reported that its revenue for 2019 rose 7.2% to RMB1,928.0 million and that its EBITDA climbed 144.1% to RMB741.9 million. Gross profit was RMB565.0 million, up by 20.7%. Net profit was RMB205.0 million, 8.4% more than the previous year.

The Chinese hotelier which is invested by Group said earlier that it suspended operations at five properties for 38 days due to the coronavirus, causing a downward adjustment of the base rent by RMB 20.77 million in aggregate from RMB 200.00 million to RMB 179.23 million.

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Business zone:Lincheng New District
Address:Zhejiang · Zhoushan · dinghaiqu - No.8 Xiangzhang Street, Dinghai District, Zhoushan, China

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Lvcheng Meiguiyuan Hotel address: No.8 Xiangzhang Street, Dinghai District, Zhoushan, China

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