MIRAMAR HOTEL (00071) Li Jia Cheng: The hotel's rental rate has remained above 90% in the first half of the year. Major events are expected to increase room rates by 20% to 30%.

Chairman Lee Ka-ching of MIRAMAR HOTEL (00071) stated that their hotels have maintained an occupancy rate of over 90% in the first half of the year, with room rates similar to those of the same period last year. He expects that with the support of major events in Hong Kong in the second half of the year, room prices could increase by 20% to 30%. Lee Ka-ching mentioned that he hopes the multiple-entry policy for mainland residents will be expanded to cities like Beijing and Shanghai, believing it will further boost consumer spending and hotel performance in Hong Kong. With the completion of the Kai Tak Sports Park and the anticipated measures to attract more tourists from mainland China, he is confident in the tourism industry's performance in the second half of the year. Furthermore, after the reconstruction of future exhibitions, it will attract more business travelers. Chief Operating Officer Chen Chung-yi stated that dining is an important source of income for the group during holidays, but the trend of Hong Kong residents traveling north during weekends has impacted related business performance. The group has reduced the proportion of leased space for dining in its shopping malls by several percentage points. Chen Chung-yi also anticipates that Middle Eastern tourists will gradually increase after the resumption of flights to Saudi Arabia in October. The group has already obtained Halal food certification and is prepared to receive Middle Eastern customers. Their hotels are located near the Tsim Sha Tsui Mosque, making them one of the first hotels in Hong Kong to provide amenities for Middle Eastern guests, which they believe will benefit the industry.