The Hotels, Resorts & Inns Division recorded yet another year-on-year growth. There is a marginal increase in our Hotel Groups' revenue as compared to the same period last financial year. The strongest segment is from online bookings and leisure travelers from short haul sector. This is attributed to the attractive promotional rates offered by low cost carriers, online portals within the region and our extensive marketing programs.
The Hotel Groups' brand portfolio was expanded with the opening of the inaugural Swiss-Garden Residences Kuala Lumpur in March 2011. The Group's foray into serviced residences was initiated to meet the evolving travelling and hospitality trends. There is an increasing demand from both the leisure and business travelers as reflected in our first quarter performance results for Swiss-Garden Residences Kuala Lumpur. We achieved an average occupancy of 80 % and we are optimistic that the trend will continue to grow.
www.swissgarden.com
For the financial year ended 30th June 2011, our Timeshare division continued to experience a challenging and competitive environment.
Forging on, the Division will focus efforts in managing its operating costs and strengthening the delivery of its products and services. Timeshare products have been re-invented to suit customer needs, marketing strategies were evaluated and improved and tighter controls on credit were implemented. Positive results from these measures and the dedication of the team in the Division in achieving the desired budget will see the Division through into the next financial year with confidence.
www.sgivacationclub.com
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