Habbo Hotel Dev's Revenues Jump 20 Percent After 'Cost Savings'

Habbo Hotel developer Sulake reported its best half-year performance ever, as its revenues for the first six months of 2010 jumped to $39 million, a more than 20 percent rise compared to the same period last year -- with a profit of $4.5 million for the half. The Helsinki-based company, which saw its revenues slightly decline in 2009, credits its strong revenue growth to improvements in its operating model, continuing to develop Habbo Hotel, and "cost savings". Last October, Sulake reportedly laid off some 40 employees, or 20 percent of its global workforce. Its primary product, Habbo Hotel, currently serves more than 15 million unique users from over 150 countries. The teen-targeted virtual world allows players to create and customize avatars, socialize with friends, decorate rooms, play games, buy clothes/items, and more. "Naturally, we are very excited to be able to tell great news like this," says Sulake CEO Timo Soininen. "This performance is thanks to systematic work in developing our operating model, cost savings and most importantly, continual focus on developing the Habbo Hotel product and community." Soininen added, "We expect to continue on the same track, and have yet to fully utilize the potential of social networks as a source of growth."