Abu Dhabi National Hotels (ADNH), the UAE’s leading hospitality group with interests in hotels, catering, tourism and transport reported a Net Operating Profit of AED456.2 million in 2008 compared to AED358.4 million in 2007 reflecting a net operating growth of 27.3%.
The Company attributed the increase in operating profits and revenues to the Group’s excellent performance in the Hotel Division and gains in other operating sectors.
Announcing the preliminary financial results ending 31st December 2008, ADNH said total operating revenue increased 29.5% to AED 1,736.4 million from AED 1,349.6 million in 2007, while earnings generated from overseas and local investments trimmed net annual profits by 37.9% to 292.7 million from AED 471,6 million in 2007.
ADNH commended the Company’s Hotel Division and other operational sectors’ achievements in 2008 and mentioned that with the addition of two new properties to its portfolio of hotels in 2009 namely, the Sofitel Jumeirah Beach and Al Diar Barsha Hotel and Apartments in Dubai, ADNH will add outstanding results and value for the company’s shareholders. Three world class hotels currently under construction in Abu Dhabi, the JW Marriott Resort & Spa, Park Hyatt Saadiyat Island and Capital Centre Hotel, will further cement ADNH’s significant growth.
In 2009, ADNH is committed to reinforcing its development drive in Abu Dhabi and the UAE, while raising the company’s profile as a regional force in the tourism and hospitality sectors.
