Tuesday, September 10th, 2013
Kim Yoon-jin, analyst with Daishin Securities, said, "The August number of Chinese inbound tourists rose 60 percent from the same month last year, breaking the monthly record once more." Assuming that Chinese tourist numbers increase 35 percent next year, the analyst added, Hotel Shilla's 2014 operating profit would rise 9 percent to 252.1 billion won from an estimated 2013 operating profit of 230.6 billion won.
"If Hotel Shilla's duty-free shop in Jeju Island can complete its store expansion project as planned, it will account for as much as 13 percent of total sales in all duty-free shops, becoming the centerpiece of the company's future growth," the analyst said.
