"Suspended" Boulevard Holdings, Inc.

...magbubukas na Boracay, pwesto na dito sa bazurang 'to guys Big Grin

Boulevard Holdings banks on Boracay reopening to boost sales performance

BOULEVARD Holdings, Inc. (BHI) is banking on the reopening of tourist destination Boracay Island this month to improve its business, after posting declines in its sales performance during the island’s six-month rehabilitation.

In a disclosure to the stock exchange on Thursday, the listed firm, which operates Friday’s Boracay Beach Resort, said sales dropped by 51% in the four months ending September to P11.5 million, versus the P23.6 million generated in the same period a year ago.

Sales in September alone however managed to rise 15% to P4.32 million, compared to P3.75 million seen in the same month last year.

BHI earlier said the closure of Boracay will lead to foregone revenues of P6.5 million from April to October, in addition to some P35 million set to be spent on fixed costs and expenses for the upkeep of the resort for six months.

The company also lost P22 million in cancellations of advanced deposits from customers in China and Germany after the Department of Environment and Natural Resources (DENR) announced the island’s closure.

The DENR has scheduled a soft opening for the island on Oct. 15, with a full reopening on Oct. 26. It is likewise limiting the number of tourists in the island per day to 19,000, with daily tourist entry capped at 6,405, with the assumption they will only stay for two to three days.

BHI expects the island to become more enjoyable to both local and international guests once Boracay reopens, saying that it hopes for a balance of economic and development sustainability in the island. The company said the widening of main roads from Cagban Jetty Port to the island’s main areas will also reduce traffic, thereby improving guest satisfaction. This is further expected to boost tourist arrivals.

“The company expects improved business and to reap the rewards back to the 1980 resort environment that tourists fully access the beach front,” BHI said. It also expects the local government to continue its efforts to rehabilitate the island moving forward.

BHI swung to a net loss attributable to the parent of P1.77 million in the nine months ending February, versus an attributable profit of P2.02 million in the same period a year ago. Revenues meanwhile went up to P79.37 million, 11% higher year-on-year.

source: https://www.bworldonline.com/boulevard-h...rformance/


Resort operator BHI posts lower sales in November

BOULEVARD Holdings, Inc. (BHI) reported lower sales in November, despite the reopening of its resort in Boracay after the island’s six-month closure.

In a sales report disclosed to the stock exchange on Wednesday, BHI said consolidated sales of products and services dropped by 36% to P5.86 million in November, versus the P9.14 million posted in the same period a year ago.

On a six-month period, BHI’s consolidated sales fell by 52% to P18.68 million.

“(The) decrease in sales (was) mainly due to the six-month closure of Boracay, Malay, Aklan for rehabilitation effective April 26, 2018 and Friday’s Holdings, Inc., which owns and operates Friday’s Boracay Beach Resort (Friday’s Resort) is one of the companies affected by the order of the National Government,” the company said.

Friday’s Holdings is a subsidiary of BHI.

The company noted that Friday’s Resort restarted its hotel operations on Oct. 30, 2018, as Boracay Island welcomed back local and international tourists on Oct. 26.

With the tourist island’s reopening, Friday’s Resort said it expects improved business due to the rehabilitation back to its state in the 1980s.

“Friday’s Resort hopes for a balance of “economic development and sustainability” on the world renowned resort island,” the company said.

It also added that the increase of travel agents promoting Boracay will be valuable to its business as well as other compliant hotels, which in turn will ensure the continuity of their business operations.

BHI suffered a net loss of P1.77 million in the nine months ending February 2018, a reversal of its attributable profit amounting to P2.02 million in the same period the year before. Gross revenues meanwhile stood at P79.37 million, 11% higher year-on-year. 

source: https://www.bworldonline.com/resort-oper...-november/


...trading suspended pa rin dahil di pa nagcocomply sa reportorials nila buset

Owner of Friday’s Boracay resort sees lower sales in seven months

BOULEVARD Holdings, Inc. (BHI) reported a decrease in sales in the seven months ending December, as operations were still affected by the six-month closure of Boracay.

In a disclosure to the stock exchange on Wednesday, the company said sales dropped by seven percent to P10.74 million in December. On a seven-month basis, BHI’s sales further fell 42% to P29.42 million, versus P50.52 million in the same period a year ago.

BHI owns Friday’s Holdings, Inc., which in turn operates Friday’s Boracay Beach Resort.

The company attributed the negative performance to the closure of Boracay Island from April to October last year, upon orders by President Rodrigo R. Duterte to rehabilitate the renowned tourist destination.

BHI said it resumed the hotel operations of Friday’s Boracay Beach Resort last Oct. 30, and is upbeat on the business prospects on the island.

“With the reopening to local and international tourists which started on Oct. 26, 2018, Friday’s Boracay Resort management and staff are excited to welcome their guests on a successful relaunch with our continued efforts to make resort experience more enjoyable to our guests around,” the company said.

The company is also banking on the increase of travel agents promoting Boracay’s cleaner environment, which it said is comparable to its state in the 1980s. This could ensure the continuity of their business operations. 

source: https://www.bworldonline.com/owner-of-fr...en-months/


Forum Jump:

Users browsing this thread: 1 Guest(s)