Hana Tour Reports Decrease in Q3 Earnings Amid Seasonal and External Challenges
Hana Tour, a listed company on the KOSPI, announced on the 5th that its operating profit for the third quarter of this year was 8.3 billion KRW, marking a 31.1% decrease compared to the same period last year. The companys revenue also fell to 123.3 billion KRW, a decrease of 22.7%, while net profit decreased by 32.7% to 9.2 billion KRW.
The company attributed this decline to the timing of the Chuseok holiday, which occurred in October this year compared to September last year, causing a shift of performance into the fourth quarter.
The total number of outbound travelers in the third quarter was 930,000, down 2% from the same period last year. In addition to the Chuseok holiday effect, concerns over earthquakes in Japan and the conflicts in Thailand and Cambodia temporarily dampened demand in those regions, leading to a decrease in the number of customers utilizing planned travel packages.
However, the proportion of mid-to-high-priced package sales reached a record high of 54% in the third quarter. The company noted an increasing trend in the selection of mid-to-high-priced packages for both medium- and short-distance travel options.
Moreover, the share of sales through online channels accounted for 52% based on customer numbers, achieving over 50% for the first time. The increase in online sales proportion compared to pre-COVID-19 levels is attributed to strengthened online channel capabilities and changes in consumer patterns.
Hana Tour expressed optimism for the fourth quarter, stating that the extended Chuseok holiday and year-end peak season effects would likely contribute to balanced growth across all regions.
The company attributed this decline to the timing of the Chuseok holiday, which occurred in October this year compared to September last year, causing a shift of performance into the fourth quarter.
The total number of outbound travelers in the third quarter was 930,000, down 2% from the same period last year. In addition to the Chuseok holiday effect, concerns over earthquakes in Japan and the conflicts in Thailand and Cambodia temporarily dampened demand in those regions, leading to a decrease in the number of customers utilizing planned travel packages.
However, the proportion of mid-to-high-priced package sales reached a record high of 54% in the third quarter. The company noted an increasing trend in the selection of mid-to-high-priced packages for both medium- and short-distance travel options.
Moreover, the share of sales through online channels accounted for 52% based on customer numbers, achieving over 50% for the first time. The increase in online sales proportion compared to pre-COVID-19 levels is attributed to strengthened online channel capabilities and changes in consumer patterns.
Hana Tour expressed optimism for the fourth quarter, stating that the extended Chuseok holiday and year-end peak season effects would likely contribute to balanced growth across all regions.
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