Abu Dhabi National Hotels announced a net profit for the first half year of 2005 of Dhs194 million against Dhs126 for the same period last year; representing an increase of 54%
“We are pleased with this achievement” stated H.E. Khalifa Nasser Al Mansoori, Chairman of Abu Dhabi National Hotels. “Several key factors have had a positive impact on this robust performance; notably the overall growth of the domestic economy, the attraction of Abu Dhabi as a growing key business and leisure center and the increased activity in the air transport by the national carrier Etihad Airways. Other factors that have contributed to our positive results are the active role played by the Abu Dhabi Tourism Authority and the coordination between our ground operators; Sunshine Tours and Al Ghazal Transport has constantly improve its services and products provided to groups and hotel residence. Non-operating profits have also contributed positively to our bottom line – in particular gains in marketable securities”, added Al Mansoori.
Mr Ali Al Meheiri, Acting Director General added: “Our hotels division performance for the 1st half of 2005 has witnessed a great improvement. Our Al Diar hotels division has achieved an occupancy rate of 90%. Similarly, our International brand hotels such as the Hilton, Sheraton and Meridien have witnessed positive growth.
Al Meheiri added: “We are now really benefiting from the fruition of the investments we have made in the hotels and that we are ahead in our program/schedule for the renovation of Le Meridien.”
About Abu Dhabi National Hotels
Abu Dhabi National Hotels was established more than 20 years ago and since then has grown in both size and diversity into a quality, broad based Hotel, Tourism, Transport and Catering Group. ADNH interests include 3, 4 and 5 star hotels in addition to Sunshine Tours and its transportation business Al Ghazal. In addition, ADNH has a Joint Venture with the renowned catering and services company Compass, covering its respective catering operations in the Middle East under the banner ADNH/Compass.
