Hotel Shilla Co. posted a first-quarter net loss of 1.5 billion won, remaining in the red compared with a year ago.
Its sales dropped 22.9 percent to 727.2 billion won.
Operating income for the January-March period was 26.6 billion, improving from the 66.8 billion won loss a year ago, the company said in a regulatory filing.
The operating profit was 957.6 percent higher than the average estimate.
The company operates luxury hotels and duty-free shops. It has hotels in Jeju, Seoul, and Suzhou, China.
