TAKEOVER target Oaks Hotels and Resorts Ltd has increased its earnings outlook but warned it may take a $5.3 million hit on its Dubai operations.
The company was experiencing strong occupancy and room rates in the second half, said Douglas Wong, chairman of the Brisbane company.
"In view of these positive trading trends, the group confirms that it currently expects (earnings before interest, tax, depreciation and amortisation) EBITDA from core operations to be in the range of $33 million to $35 million," Mr Wong said in a statement.
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