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Wanda Hotel Development Net Settlement in 20191.500 million hectares, turning losses every year

02/06/2020 0 Comment

Wanda Hotel Development Net Settlement in 20191.500 million hectares, turning losses every year
On March 31, Wanda Hotel Development Co., Ltd. (hereinafter referred to as “Wanda Hotel Development”) released consecutive 2019 results.Reported quantity, Wanda hotel development continued operating business income.1.3 billion US dollars, only a slight increase of 0 from the previous year.1%; the parent company ‘s share attributable to the owner is 1.500 million US dollars, and the profit attributable to owners of the parent company was 7 in the same period last year.6.7 billion hectares changed from profit to loss.Benefiting from the increase in the number of managed hotels and newly opened hotels, Wanda Hotel Development’s revenue from hotel operation and management services in 2019 is about 4US $ 7.1 billion, an increase of about 9 from 2018.8%.However, the increase in the number of employees after the development of medium-sized businesses led to an increase in costs and the profit of this segment decreased by approximately 25.6% to 1.7.6 billion euros.In 2019, due to the reduction in rental income from Hengli City, Wanda Hotel Development Investment Property Leasing and Management Segment’s revenue was 1.4.9 billion US dollars, a decrease of about 11 from 2018.6%.At the same time, due to Hengli City’s estimated supplementary net provision for investment properties.8.9 billion euros, the division expanded by 126.7% to 6.6.6 billion US dollars, from profit to loss.In the hotel design and construction management services segment, due to the progress of several projects in 2018 that was faster than expected or completed, the segment’s revenue in 2019 was 1%.9.3 billion feet, a decrease of 10 from 2018.2%, profit also reduced by about half to 57 million reconstruction.Wanda Hotel Development said that after injecting Wanda Wine Management, it will focus its business transformation strategy on the toll business, and will continue to improve the cash flow and reduce leverage by continuing to replace previous property investment projects.Currently, Wanda Hotel Development is in the process of reaching a sale with a potential buyer for the Chicago project.Sauna, Ye Wang Zheng Yijia proofreading Yang Xuli pictures Wanda hotel development official website screenshot

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