Hotel Shilla has significantly increased its operating profit for the second quarter of this year, thanks to a focus on profitability in its duty-free business and improvements in its hotel sector.
The company reported a consolidated operating profit of 61.1 billion won for the second quarter, marking a 606% increase compared to the same period last year, as announced on July 31.
During the same period, sales totaled 971.8 billion won, a 5.2% decrease from the previous year, attributed to the closure of the DF1 duty-free area at Incheon International Airport.
Despite challenging business conditions, Hotel Shilla stated that it continues to maintain stable performance through a profitability-focused operational strategy.
The duty-free (TR) segment faced ongoing unfavorable conditions, including high exchange rates and a global economic slowdown. However, the company emphasized its commitment to strengthening its operational foundation through profitability-focused management.
In the hotel and leisure sector, the company noted improvements in both sales and profitability, driven by the peak season for the hotel industry and the opening of new hotels.
A Hotel Shilla representative stated, "In the duty-free sector, we will actively respond to changes in the domestic and international environments and the duty-free market, while in the hotel and leisure sector, we will enhance brand competitiveness based on our three major brand system. We will also respond proactively to customer demand with differentiated products and services."
* This article has been translated by AI.
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