Seoul: Hotel Shilla Co. on Tuesday reported its fourth-quarter net loss of 16.6 billion won (US$11.5 million), remaining in the red compared with a year ago. The company disclosed the financial results in a regulatory filing, highlighting ongoing financial challenges.
According to Yonhap News Agency, Hotel Shilla continued to report an operating loss of 4.1 billion won for the October-December period. This marks an improvement from the same period last year, where the company faced a more significant operating loss of 27.9 billion won. Despite the losses, the company experienced a 10.3 percent increase in sales, reaching 1.04 trillion won.