Annual Report 2019

Travel Business Revenue from travel segment amounted to HK$1,345 million, representing an increase of HK$89 million or 7.1% as customers’ destination preferences had been appositely fulfilled with punctilious services. Long- haul travels, especially to Europe and Russia, had seen strong demand during the year while tours to Japan remain the most favourite choice among the short-haul destinations. With the addition of consciousness in efficiency improvement which reduced operating costs, EBITDA rose substantially to HK$94 million, registering an increase of 57.6%, as compared to last year. IMMERSING IN THE VOYAGE OF DISCOVERY Management Discussion and Analysis Miramar Hotel and Investment Company, Limited Annual Report 2019 021