Abu Dhabi National Hotels (ADNH) has reported a net operating profit of Dhs456.2 million ($124m) in 2008 – a growth of 27.3 percent on the 2007 figure.
The UAE hospitality group, which has interests in hotels, catering, tourism and transport, attributed the increase in operating profits and revenues to the its performance in the hotel division and gains in other operating sectors.
ADNH said total operating revenue increased 29.5 percent to Dhs1.7 billion, but earnings generated from overseas and local investments trimmed net annual profits by 37.9 percent to Dhs292.7 million, according to a statement on the company’s website.
The company owns 14 hotels in Abu Dhabi and Fujairah, many of which are operated by international groups such as Hilton, Mercure, Sheraton and Le Méridien, and has plans to add two more to its portfolio in 2009 – the Sofitel Jumeirah Beach and Al Diar Barsha Hotel and Apartments in Dubai.
Three hotels are currently under construction in Abu Dhabi – the JW Marriott Resort and Spa, Park Hyatt Saadiyat Island and Capital Centre Hotel, the company added.
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