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Theme park operator China Travel sees 39% rise in profit

08/30/2017| 3:56:08 PM|

A HK-listed company focused on hotel and leisure industry investment in mainland China has reported a robust 39% rise, driven by rising numbers of tourists visiting its properties and theme parks.

China Travel International Investment Hong Kong Limited, which also operates whole leisure resorts, registered net profit of HK$375 million (USD 47.9 million).

The results leave the company on track to beat its full-year profit estimate of HK$548 million, polled by Thomson Reuters on seven analysts.

“The domestic tourism industry maintained double-digit growth, compared with a national 6.9% rise in gross domestic product in the first half of the year,” said its chairman Zhang Fengchun.

China Travel enjoyed strong 31% growth in income, especially, as its core tourist attractions to HK$311 million,” Zhang said, including its “Window of the World” theme park in Shenzhen.

Zhang said he is now hopeful of even more robust growth to come, as a result of China’s flagship economic program, The “Belt and Road Initiative”, adding his firm is already exploring opportunities along the ancient Silk Road trading routes, which present rich pickings for tourism.

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TAGS: China Travel | theme park | Belt and Road
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