Novotel Saigon Centre Hotel owner reports biggest ever loss
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Thien Phuc International Hotel Company, which owns the four-star Novotel Saigon Centre Hotel in HCMC, has reported its biggest ever half-yearly loss of VND369.6 billion (US$15.4 million).
The loss for the year’s first half was 50% higher year-on-year, according to its earnings report.
It had racked up full-year losses of VND786 billion in 2021 and VND783 billion in 2022.
At the end of H1 2023 Thien Phuc had total liabilities of VND8.695 trillion, including VND6.4 trillion in corporate bonds it had issued.Thien Phuc used to belong to Que Huong Liberty Corporation, one of the largest hotel operators in the city.
In 2016, Que Huong Liberty sold its entire holding in Thien Phuc to Saigon Green View Investment Corporation.
Questions & Answers
Q.How large was the company's loss for the first half of the year?
How large was the company's loss for the first half of the year?
Thien Phuc International Hotel Company reported a half-yearly loss of VND369.6 billion, which translates to US$15.4 million. This figure represents its biggest ever half-yearly loss.
Q.How do the recent half-year losses compare to the previous year?
How do the recent half-year losses compare to the previous year?
The loss for the first half of 2023 was 50% higher compared to the same period last year. The company also recorded full-year losses of VND786 billion in 2021 and VND783 billion in 2022.
Q.What is the total amount of liabilities Thien Phuc currently has?
What is the total amount of liabilities Thien Phuc currently has?
At the end of the first half of 2023, Thien Phuc had total liabilities amounting to VND8.695 trillion. This sum includes VND6.4 trillion from corporate bonds that the company had issued.
Q.Who previously owned Thien Phuc International Hotel Company?
Who previously owned Thien Phuc International Hotel Company?
Thien Phuc International Hotel Company used to be owned by Que Huong Liberty Corporation, a significant hotel operator in the city. Que Huong Liberty sold its full stake in Thien Phuc to Saigon Green View Investment Corporation in 2016.
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