Published:
Banyan Tree loss not a surprise
Executive Chairman says 3Q is their usual low season period.
Mr Ho KwonPing, Executive Chairman of Banyan Tree said, “The loss recorded in 3Q was expected as announced in the last quarter as 3Q is our usual low season period. Property sales under the Banyan Tree name continued to gain traction.”
The Group’s total operating expenses increased by S$7.9 million for 3Q12. Except for cost of properties sold and sales and marketing expenses, all other categories of expenses were higher than last year, mainly due to higher revenue and consolidation of Banyan Tree Seychelles expenses.
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