agicor Real Estate X Fund Limited is in recovery mode following the downturn of the hospitality sector in 2020.

The company’s fortunes have turned around as X Fund posted a net profit attributable to shareholders of $376.50 million in 2021 compared to the drastic net loss attributable to shareholders of $9.99 billion in 2020.

 

The hotel and real estate company saw Double Tree Hotel (DTO) in Orlando, Florida, grow its revenue by 83 per cent to $4.43 billion on occupancy of 83.2 per cent, which is well above the 46.9 per cent at the end of December 2020. Though this remains below the 2019 record of $5.27 billion, the shareholder report noted that Florida experienced a 60 per cent increase in visitors for October to December 2021 (fourth quarter) which was above the pre-pandemic numbers in December 2019.

 

“I think the company has turned the corner and is really going to grow now. DTO numbers are very strong towards the end of last year and for the first quarter this year. In terms of where it’s going, stay tuned as we’ll have some infomation for you in about two months,” stated chairm

https://www.jamaicaobserver.com/business-observer/sagicor-x-fund-recovering_246898