Asiatravel.com Holdings, the pan-Asia online travel and hotel reservation service provider, posted a net profit of $1 million for its 1QFY2010 ended 31 December 2009, a drop of 21.8% on-year. Revenue fell 6.5% to $18.9 million from $20.2 million.
Asiatravel.com says although the economic recovery is moderating the decline in average hotel room rates in 1QFY2010 compared to the rates in the last two quarters of FY2009, the average room rates are still about 15% below those of 1Q FY2009.
