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Shangri-La Asia Reports $460mn Loss for 2020

Shangri-La Asia Reports $460mn Loss for 2020

Hotel Group Shangri-La Asia reported a net loss of $460.2mn in 2020 as compared to net profits of $152.5mn in 2019. Revenues fell ~58% to $1.03bn impacted by the pandemic with its weighted average occupancy rate falling to 33% for 2020 vs. 68% in 2019. For example,...
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