Annual Report 2021

Food and Beverage Business Early last year, the government relaxed social distancing measures when the pandemic situation was under control. Consumption sentiment among citizens began to improve steadily, and dine-in business and reservation rate started to recover. With the launch of the “vaccine bubble” programme in April last year, the Group’s restaurants quickly adjusted its operational model to type C or D, and raised the upper limits on the maximum diners per table and the total capacity of the restaurants, as well as extending the operating hours, in order to capture the rising demands for dine-in services and festive celebrations. Meanwhile, the Group continued to stimulate sales through special offers for dine-in and takeaway and advance sales through Mira eShop. The Group also actively sought collaborative business opportunities, including joining hands with liquor wholesalers in launching festive hampers and wine tasting menus. In view of the potential of the local catering market, the Group closed two restaurants during the year, and actively preparing to introduce brand-new dining concepts to extend new markets and demographics. Thanks to the various agile sales strategies, the year’s revenue improved in comparison to last year. 019 Miramar Hotel and Investment Company, Limited Annual Report 2021 Management Discussion and Analysis