Habbo Hotel parent reports 20% revenue growth

Habbo: 20% growth
Habbo: 20% growth

The company behind teen-focused online community Habbo Hotel has reported a more than 20% year-on-year increase in annual revenues to €56.2m.

Sulake, based in Finland, is planning to focus entirely on Habbo Hotel this year and has sold its Finnish social networking service for young adults to its current management.

Sulake claims its earnings before interest, tax, depreciation and amortisation rose from €600,000 in 2009 to €5.4m in 2010, when net profit was €1.6m.

Habbo Hotel has 11 million global unique users per month with around 1.5 million in the UK, according to company figures.

Timo Soininen, chief executive of Sulake, said: "2010 was a record year for Habbo Hotel in many ways. Not only did we celebrate our 10 year anniversary, but our user base, sales and profitability continued to increase.

"The growth was a result of several successful new product features and improvements, like new virtual pets, marketplace tools for virtual item trading, an all new Habbo Club experience and the launch of user customized games."

Soininen added: "New social games and features inside Habbo Hotels and Habbo mobile apps, in particular, are a significant growth opportunity for us this year."

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