Palace mulls parking and other revenue generating use of assets as losses widen

PALACE Amusement Company Limited is exploring ways to generate additional income from its property portfolio and other physical assets as the cinema operator grapples with widening losses, declining box office receipts and mounting operational challenges that have continued to weigh negatively on its business.

Among the options being considered is a possible joint venture to develop its Cross Roads property in Kingston, with plans to incorporate paid parking at its Studio One Boulevard lot, adjacent to Carib 5, for use by the wider public outside cinema hours, alongside a potential commercial development.

The move forms part of efforts to unlock value from underutilised assets and diversify revenue beyond traditional cinema operations.