S.A.I. Leisure Group Company Limited provided earnings guidance for the year ended December 31, 2022. For the year, the company expects the Group to record a loss attributable to owners of the Company of approximately USD 12.0 million as compared to a loss attributable to owners of the Company of approximately USD 6.0 million for the preceding financial year ended December 31, 2021. Based on the information currently available to the Board, the amount of loss as aforesaid has taken into account, amongst others, the recognition of depreciation and amortization expenses (non-cash items) relating to the Group's assets of approximately USD 4.3 million.

Based on the information currently available to the Board, the increase in loss is attributable to the following factors: a decrease in revenue generated by the Group's hotels and resorts segment due to (i) the decrease in occupancy of Kanoa Resort in view of the relaxation of mandatory quarantine requirements in Saipan, (ii) the completion of the emergency contract in respect of Kanoa Resort with the government of the Commonwealth of the Northern Mariana Islands in July 2022, and (iii) the temporary closure of Kanoa Resort after completion of the emergency contract for the purpose of carrying out planning and design work for the renovation and rebranding of the hotel as "voco Resort Saipan" in the near future; a one-time write-off of the Group's property, plant and equipment amounting to approximately USD 0.5 million as a result of the renovation works anticipated to be carried out to Kanoa Resort; and an increase in operating expenses due to the incurrence of one-time pre-opening expenses for Crowne Plaza Resort Saipan and Crowne Plaza Resort Guam amounting to approximately USD 0.2 million and approximately USD 0.2 million, respectively.