Hospitality Career E-Mag: Shangri-La records 54% increase in net profits.

Listed hotel operator Shangri-La Asia Limited (Shangri-La) has announced net profits of US$255.5 million in 2009, a 54% increase from US$165.9 million in 2008.

Total revenue recorded US$1.23 billion while rooms revenue registered US$570.2 million, reflecting a 9% and 15% decline, respectively, as compared to 2008.

Shangri-La also announced that it does not expect to achieve pre-crisis performance levels before 2012. Currently, Shangri-La operates 66 hotels under its Shangri-La and Traders brands.

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