Aristo International Hotel, located in Vietnam near the Chinese border, has reported an increase in revenue and EBITDA following an influx of tourism from China.
Aristo is a hotel owned by casino operator Donaco International.
According to the latest financial results for the fourth quarter, Aristo recorded net revenue of AU$3.61 million ($2.4 million), a 45 percent increase from the AU$2.48 million ($1.6 million) reported in 3Q23, and property-level EBITDA of AU$2.24 million ($1.5 million), an 83 percent increase from the AU$1.22 million ($800,000) reported in the third quarter of 2023.
Donaco has observed an increase in tourism for Aristo over the past 12 months as the borders with China have fully reopened. This has allowed the Company to capitalize on increased daily visitation numbers to the region, with tourism expected to grow even further over the next 12 months.
Group-wide, Donaco International reported 4Q23 revenue of AU$9.73 million ($6.42 million) compared to AU$9.71 million ($6.4) in 3Q23 and EBITDA at AU$5.06 million ($3.3 million), slightly below the AU$5.73 million ($3.8 million) reported the third quarter.
The Australian Stock Exchange-listed Donaco released its financial results on Tuesday.
For Cambodia, the performance was not as good as that of Vietnam. The company’s DNA Star Vegas property (pictured below) in Cambodia recorded net revenue of AU$6.12 million ($4 million) for the 4Q23 and property level EBITDA of AU$3.61 million ($2.4 million), down nearly 30 percent quarterly due to lower visitation.
Donaco’s Non-Executive Chairman, Porntat Amatavivadhana, noted that “Aristo outperformed expectations, resulting in considerable net revenue and property level EBITDA growth, and high levels of tourism coming back to the region following the reopening of borders between China and Vietnam.”
“The tourism campaign recently launched by the Cambodian Government has also been successful, leading to increased visitation from Thailand over the past three months.”
“Aristo is set to see increased tourism in 2025 following the opening of the Sapa airport in Lao Cai, located near the Aristo operation. Once opened, the airport is projected to increase visitation to the region by up to 1.5 million passengers annually, providing an influx of tourism,” noted the executive.
