, Singapore

Hotel Grand Central's 3Q profit jumped eight-fold to $31.5m

Thanks to strong shares from new hotels.

Hotel Grand Central (HGC)'s revenue in Q3 2016 increased by 11% compared to Q3 2015 mainly due to full quarter contribution to revenue in 2016 by Hotel Chancellor @ Orchard and Hotel Grand Central which soft opened in May and October 2015 respectively.

As a result, net profit surged by 798% to $31.5m.

HGC also gained $1.97m from foreign exchange compared to a loss of $1.74m in the corresponding period last year.

The sale of Hotel Grand Chancellor Surfers Paradise also brought $28.124m gain during the quarter.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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