OPERATIONS REVIEW
A refurbishment program is in the pipeline for
19 suites in Stamford Plaza Brisbane, in addition
to a major lift upgrade. When completed, this will
further enhance guests’ experience and reaffirm
Stamford Plaza Brisbane as the undisputed top
choice hotel in Brisbane.
Stamford Plaza Auckland,
a QualMark certified
5-star hotel, delivered a notable GOP increase
of 11.5% in the last FY. With improved business
sentiments, the hotel enjoyed higher revenue
streams from both Rooms and F&B segments.
Strong occupancy drove revpar up by 5.8%
whilst F&B revenue growth was bolstered by
effective marketing and social media campaigns.
To maintain its competitive edge and augment
future revenue, the hotel will be undergoing a major
refurbishment of its 284 rooms over a six month
period. As a result, the hotel’s revenue is expected
to be lower in the coming FY.
Property Development
Operating profit of our Property Development
segment fell by 15.4%over the last FY to S$575,000
despite a 118% increase in property sales revenue
to S$47.9 million. Higher property sales revenue
was offset by marketing and advertising costs
spent on the Macquarie Park Village, whose sales
proceeds will be recognised only upon project
completion in 2017.
One commercial unit and four apartments in The
Stamford Residences and The Reynell Terraces
were sold with total sales revenue of A$14 million.
Subsequently to 31 March 2014, another unit
was sold at A$5.3 million. The project has two
penthouses and two terraces remaining for sale.
The Group sold 36 units of The Stamford
Residences, totalling NZ$28.0 million in the last
FY at the back of improving sentiments in the New
Knights on Albert restaurant, Stamford Plaza Auckland
STAMFORD LAND CORPORATION LTD
ANNUAL REPORT 2013/2014
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