Revenues of Sahid Hotel Group in 2014 reached Rp 190 billion

Throughout 2014, PT Hotel Sahid Jaya International Tbk (SHID) revenues decreased by 6.91% to Rp. 190.87 billion from Rp. 205.04 billion in 2013.

Gross profit performance in 2014, in nominal decrease of 3.41% or Rp. 4.89 billion become Rp. 138.85 billion from Rp. 143.74 billion in 2013, but the gross profit margin in 2014 is better which is 72.79% from 70.10% in 2013. Revenue decrease occurred in the last 3 months of 2014, in addition to the slowdown in economic growth is also due to restrictions set by the government to reduce spending budget of organize any events in the hotel.

Room occupancy rate is relatively stable, the range of 61.05% to the total number of operating rooms in 2014 amounted to 560 rooms with an average occupancy rate increased by Rp. 721 473 from Rp. 675 134 in the previous year.

In the middle of macro-economic constraints and global market turmoil led to erosion of the value of the rupiah against the US dollar, the company was able to reduce the burden of the cost of sales, a 6.9% decrease in revenue, followed by a decrease in costs of 15.12% become Rp. 52.02 billion from Rp. 61.29 billion in 2013. Likewise, operating expenses also decreased by Rp. 5.81% to Rp. 120.16 billion from Rp. 127.58 billion, with a decrease in the costs of the operating profit increased to Rp. 18.68 billion from Rp. 16.16 billion in 2013.

President Director of PT Hotel Sahid Jaya International Tbk, Mr. Hariyadi B. Sukamdani said that he was satisfied with the company's performance and remain optimistic continue to boost performance by more being autonomous and more creative in 2015. "Thanks to the good cooperation, hard work, perseverance and discipline of the whole employees, so the Grand Sahid Jaya Hotel and other Hotel unit could develop as expected," he said.

On Thursday (May 28th, 2015), SHID held a General Meeting of Shareholders. As some point agenda and the results of the Annual Meeting, including:

1. Approval of the Annual report of the Company, including the Supervisory Board of Commissioners of the Company for the fiscal year ended December 31, 2014 and Approval of the Financial Statements for the year ended December 31, 2014;
2. Determination of the net profit of the company for the fiscal year ended December 31, 2014;
3. Appointment of Public Accountant to audit the Company's 2015 fiscal year;
4. Change of Directors and Board of Commissioners
5. Amendment to the Articles of Association to conform with the Regulation of Financial Services Authority (in Indonesia: Otoritas Jasa Keuangan (OJK)

Bp. Hariyadi said that in the future will continue to improve in order to continue to provide the best value for stakeholders.

sourced:traveldailynews.asia