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. — Arra B. Francia
