Shangri-La Group's 2023 revenue recovers to 95% of 2019
03/25/2024|4:46:22 PM|ChinaTravelNews

The Group's effective share of revenue was USD2.8 billion, recovered to 95% of FY2019. Free Cash Flow turned positive to USD145 million, against FY2022’s negative USD83 million and 40x of FY2019’s. Operational Cash Flow was USD364 million, recovered to 102% of FY2019.

Hotel business recovery was mainly led by both Mainland China and Hong Kong after reopening of borders in early 2023, while hotels in rest of the world continued to see strong travel demand.

Operating profit attributable to owners of the Company before non-operating items for the year ended 31 December 2023 was USD129.0 million, an improvement of USD290.6 million, compared to a loss of USD161.6 million for the year ended 31.

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