Annual Report 2021

146 Notes to the Financial Statements Annual Report 2021 Miramar Hotel and Investment Company, Limited 9 Revenue and segment reporting (Continued) (a) Segment results (continued) 2020 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) 819,396 201,845 119,695 173,669 – 1,314,605 Reportable segment results (adjusted EBITDA) 712,989 (5,315) (11,508) (23,084) (1,220) 671,862 Unallocated net corporate expenses (109,478) 562,384 Finance costs (3,320) Share of profits less losses of associates 202 Other non-operating net gain 1,055 Net decrease in fair value of investment properties (152,016) – – – – (152,016) Consolidated profit before taxation 408,305 Note: Except for property rental income of HK$814,497,000 (2020: HK$819,396,000) 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. (b) Geographical information The following table sets out information about the geographical location of (i) the Group’s revenue from external customers and (ii) the Group’s non-current assets other than financial instruments and deferred tax assets. The geographical location of customers is based on the location at which the services were provided or the goods delivered. The geographical location of non-current assets is based on the physical location of the asset, in case of interests in associates, the location of operations.