Annual Report 2020

143 Notes to the Financial Statements Miramar Hotel and Investment Company, Limited Annual Report 2020 9 Revenue and segment reporting (Continued) (a) Segment results (continued) 2019 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) 913,318 559,748 243,573 1,345,065 – 3,061,704 Reportable segment results (adjusted EBITDA) 798,221 173,680 23,756 94,257 170 1,090,084 Unallocated corporate expenses (111,760) 978,324 Finance costs (3,944) Share of profits less losses of associates 129 Other non-operating net gain 2,423 Net increase in fair value of investment properties 503,945 – – – – 503,945 Consolidated profit before taxation 1,480,877 Note: Except for property rental income of HK$819,396,000 (2019: HK$913,318,000) which falls within the scope of HKFRS 16 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.