Hong Kong's Miramar Hotel interim revenue falls on travel business weakness

Miramar Hotel And Investment

14/08/2026 16:06

Overview
Hong Kong hotel and property group reported interim revenue down 9.8% yr/yr
Underlying profit attributable to shareholders fell 3.0% yr/yr
Company announced acquisition of 50% interest in MPM Plaza in Mong Kok

Outlook
Company expects geopolitical and energy price uncertainties to continue affecting tourism in H2 2026
Miramar sees ongoing pressure on local consumer market from northbound consumption by Hong Kong residents
Company expects infrastructure upgrades and peak seasons to support local tourism and consumption

Result Drivers
TRAVEL DISRUPTIONS - Co said US-Israel-Iran conflict led to higher fuel surcharges and airspace safety issues, significantly reducing travel demand and impacting tourism business
NORTHBOUND CONSUMPTION - Co said increasing cross-border spending by Hong Kong residents, especially on weekends and holidays, put pressure on local food and beverage and retail businesses
HOTEL RENOVATIONS - Co said guestroom renovations and IoT upgrades at The Mira Hong Kong temporarily reduced available room inventory, briefly impacting room revenue

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$1.17 bln
 
H1 Net Income Attributable
 
HK$331.70 mln
 

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Aug 14 - Singapore's Hotel Properties H1 revenue falls on travel drops due to Middle East conflict
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Aug 12 - TUI Q3 revenue misses expectations on soft demand, higher fuel costs

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-14/a11f5432-7bb1-4f5b-80d9-dcd458715b06.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)