Hongkong and Shanghai Hotels (0045), operator of Peninsula Hotels, returned to a profit of HK$23 million for the first six months of 2026, compared with a loss of HK$289 million a year ago, supported by the recovery of global luxury travel.
No interim dividend was declared.
Stripping out the post-tax effects of the revaluation movements of investment properties and other non-recurring items, its underlying loss narrowed 92.1 percent year-on-year to HK$17 million during the period.
Revenue climbed 19.75 percent to HK$3.93 billion, while its combined revenue, which includes the group's effective share of revenue from associates and joint ventures, grew by 19.3 percent to HK$4.35 billion.
Its hotels division attributed HK$3.12 billion to combined revenue, up 9.5 percent, driven by properties in Greater China and the United States.
Revenue per available room in Greater China and the United States rose by 29 percent and 16 percent to HK$3,006 and HK$5,288, while that in Europe and Asia (excluding Greater China) increased by 11 percent and 1 percent.
Income from the commercial properties business also jumped 93.6 percent to HK$881 million, with the sales of two additional units at The Peninsula London Residences fetching HK$395 million in revenue.
Looking ahead, chief executive Benjamin Vuchot said that the external environment remains mixed, with global travel continuing to grow and luxury hospitality benefiting from a structural shift towards experiences and hyper-personalisation.
However, geopolitical uncertainty, currency volatility, cautious luxury retail spending and higher operating costs continue to require careful management, he added.
Besides, the company said the board has approved renovation projects for The Peninsula Hong Kong and The Peninsula Tokyo, with an estimated budget of HK$2.1 billion.
