Langing-SS (01270) announced interim results, and distributable revenue of HK$56 million increased 100% year over year

According to the Zhitong Finance App, Langhing-SS (01270) announced the 2026 interim results, with hotel portfolio revenue of HK$801.8 million, up 8.7% year on year; profit attributable to joint stock holders (excluding changes in fair value of investment properties and derivative financial instruments) of HK$45.5 million, an increase of 60.2% year on year; distributable revenue of HK$56 million, up 100% year on year.

In this gradually improving market environment, our hotel portfolio (such hotels) performed even more strongly, thanks to the continued recovery in demand for visitors to Hong Kong. Overall, these hotels maintained a high occupancy rate of 91.9%, an increase of 3.5 percentage points year-on-year, while the average rent (average rent) rose 6.1% to HK$1,656 per night. As a result, average revenue from rentable rooms (average income from rentable rooms) increased by 10.4%.

Despite the challenging business environment in Hong Kong's catering industry, the restaurant (catering) business performance of these hotels has remained steady, thanks to a recovery in banquet demand and continued growth in the Chinese restaurant and buffet business. Overall food and beverage revenue increased 7.8% during the period.

Despite improvements in revenue, the increase in profit margins is still hampered by rising operating costs, particularly wages, energy expenses, and overall inflationary pressure. Despite this, the total gross operating profit of these hotels (before deducting global marketing fees) increased to HK$244.8 million, an overall increase of 12.8% year-on-year. Total operating margin improved slightly to 30.5%.