Abu Dhabi National Hotels (ADNH) has announced a 48 per cent increase in profits to AED 254 million for the first nine months of 2005, compared to AED 172 million for the same period last year.
Commenting on the un-audited results released to the Abu Dhabi Securities Market, the Chairman of Abu Dhabi National Hotels, His Excellency Khalifa Nasser Bin Huwaileel Al Mansoori, said: “We are pleased with this achievement. Several key factors have contributed to this robust performance: the overall growth of the domestic economy, the attraction of Abu Dhabi as a business and leisure centre, and the increased activity of 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 have improved services and products provided to group. Non-operating profits have also contributed positively to our bottom line – in particular gains in marketable securities.”
Mr. Ali Al Meheiri, Acting Director General, ADNH added: “The performance of the hotels division in the first nine months of 2005 has seen a great improvement. The Al Diar hotels division has achieved an average occupancy rate of 90 per cent. Our international brand hotels such as the Hilton, Sheraton and Le Meridien have also witnessed positive growth.”
Al Meheiri said: “We are now really benefiting from the investments made in the hotels; the first phase of the Le Meridien Hotel renovation programme has been completed to an excellent standard.”
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 catering and services company Compass, covering its respective catering operations in the Middle East under the banner ADNH/Compass.
