Annual Report 2019

144 Annual Report 2019 Miramar Hotel and Investment Company, Limited Notes to the Financial Statements 9 Revenue and segment reporting (Continued) (a) Segment results (continued) 2018 Property rental Hotels and serviced apartments Food and beverage operation Travel operation Others Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 Reportable segment revenue (revenue from external customers) (Note) 914,465 710,034 318,607 1,255,972 – 3,199,078 Reportable segment results (adjusted EBITDA) 807,072 265,123 12,798 59,810 (3,154) 1,141,649 Unallocated corporate expenses (123,561) 1,018,088 Finance costs (1,108) Share of profits less losses of associates 4,197 Other non-operating net gain 13,481 Net increase in fair value of investment properties 783,475 – – – – 783,475 Consolidated profit before taxation 1,818,133 Note: Except for property rental income of HK$913,318,000 (2018: HK$914,465,000) which falls within the scope of HKFRS 16 (2018: HKAS 17), Leases , all of the remaining revenue from contracts with customers falls within the scope of HKFRS 15, Revenue from contracts with customers . The Group has applied the practical expedient in paragraph 121 of HKFRS 15 such that it does not disclose the i) aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period, and ii) information about when the Group expects to recognise as revenue, as the Group’s contracts with customers generally have an original expected duration of one year or less.