beverage (“F&B”) segment despite operating in a
highly competitive CBD environment.
With its favourable location, distinctive style and
excellent service, SSCQ is well placed to continue
its outstanding performance in FY2016.
Stamford Plaza Sydney Airport
(“SPSA”) faced a
challenging FY2015 due to increased competition
around the airport precinct. Notwithstanding this,
the hotel is in the process of opening its second La
Boca Bar & Grill Argentinian Restaurant in 2H2015
to enhance hotel offering and revenue growth.
ANNUAL REPORT 2014/2015
BUSINESS PERFORMANCE
Hotel Operations & Management
The Group’s hotel operations and management
businesses performed creditably in FY2015.
Revenue per available room (“revpar”) for our
stable of 7 hotels rose 4% over the previous year,
led by stellar performances from Sir Stamford
Circular Quay, Stamford Plaza Melbourne and
Stamford PlazaAdelaide. In fact, total revenue from
this segment, denominated mainly in Australian
dollars, has risen by 3.3%.
However, despite a higher revenue, operating
profit of S$37.8million was 7.1% lower than the
last financial year (“FY”). This can be attributed to a
weaker Australian dollar, which dropped more than
3% in FY2015, and closure of Stamford Grand
North Ryde hotel making way for the 648 units
Macquarie Park Village development.
The Australian economy is expected to face
persistent growth pressures in the coming year.
However, demand for hotel rooms is expected
to remain strong, buoyed by rising local and
international tourist numbers on the back of weaker
Australian currency. The Group remains optimistic
about our hotel prospects for FY 2016.
SYDNEY
Sir Stamford at Circular Quay
(“SSCQ”) reported
another year of stellar results, with an overall
revpar growth of 5.5%. The award-winning hotel,
recognised for its quality and service, continues to
appeal to both corporate and leisure travellers.
Known for its popular English high tea offering, the
hotel, also saw modest growth in its food and
OPERATIONS REVIEW
Sir Stamford on Circular Quay
Stamford Plaza Sydney Airport
