Some travel companies and hotels have managed to escape losses as tourist numbers have increased significantly since the beginning of this year.
Hoi An Tourism Service Corporation is the unit operating the first and oldest hotel in Hoi An. According to their financial report for Q2/2023, they achieved a revenue of 26.3 billion VND, which is 2.7 times higher than the same period last year, and a post-tax profit of nearly 710 million VND compared to a loss of nearly 4.7 billion VND in the same period last year. Overall, in the first 6 months of this year, the company achieved a revenue of over 47.3 billion VND and a post-tax profit of nearly 839 million VND, compared to a loss of 11.69 billion VND in the same period last year.
The hotel business in Hoi An contributed more than 50% of the company’s total revenue, while the rest came from its subsidiary companies, such as Hoi An Tourism Limited Liability Company, Bai Bien Resort, and Tam Thanh Resort. Earlier, on April 27, the company’s HOT shares were delisted due to three consecutive years of losses. Currently, HOT shares are being traded on UPCoM.
Hotels and resorts have escaped losses when tourists increase again