Boulevard Holdings improves sales by 21%

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Boulevard Holdings Inc. (BHI), the listed operator of Friday’s resorts, saw a 21 percent sales improvement in its fiscal first half ending May.

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Consolidated sales were up 21 percent to P31.45 million in December to May from P25.99 million a year earlier, the company said in a disclosure.

The company did not make other disclosures beyond the sales figures.

Earlier, Boulevard Holdings said the end of a land dispute at Friday’s Boracay Beach Resort that started in February 2014 has been resolved helping to ease the company of unplanned expenditures.

Last March, Boulevard Holdings regained full control of its 2,600-square meter (sqm) Friday’s Boracay hotel and resorts after a year of dispute with its former owner who supposedly occupied 1,500 sqms of the property.

Jose Marcel Panlilio, BHI chairman, president and CEO, earlier said that since October 2014, the company has spent P120 million to recover Friday’s Boracay.

The company is now scouting for investors with enough funds to purchase a 30 percent equity in subsidiary FHI as part of the plan to raise capital for the redevelopment and expansion of Friday’s Boracay.

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