Capital Estate with 15pct y-on-y hike in revenue for FY 2021

Capital Estate – the company responsible for Hotel Fortuna – has reduced its net losses reported in the financial year ending July 31, 2021 to some HK$29 million, after a 15.7 per cent increase in revenue to HK$116.1 million.

The group holds a 32.5 per cent interest in Hotel Fortuna through Tin Fok Holding Company Limited.

‘Under the effect of the pandemic, the hotel’s occupancy rate dropped to approximately 50.5 per cent and recorded a turnover of approximately HK$112.3 million in 2020 compared to approximately HK$230.9 million in 2019, the company added.

Capital Estate added it will continue its securities investment as one of its principal activities and its strategy to maintain a diversified portfolio of marketable securities for effective treasury and risk management.