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 Dhs1,736.4m from Dhs1,349.6m in 2007, while earnings generated from overseas and local investments trimmed net annual profits by 37.9% to 292.7 million from Dhs471,6m 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.
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ADNH announces 2008 preliminary results
- United Arab Emirates: Thursday, February 12 - 2009 at 16:02
- PRESS RELEASE
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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 Dhs456.2m in 2008 compared to Dhs358.4m in 2007 reflecting a net operating growth of 27.3%.
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Posted by Nadeen El AjouThursday, February 12 - 2009 at 16:02 UAE local time (GMT+4)
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Notes and Media Contacts »
About Abu Dhabi National Hotels:
Abu Dhabi National Hotels (ADNH) was established in 1978. After more than three decades, the company has grown both in size and diversity into a quality, broad-based hotel, tourism, transport and catering group. ADNH owns and/or manages several 5-star and 4-star hotels in Abu Dhabi, Al Ain, Dubai and Fujairah. In addition the company has four subsidiaries focused on the hospitality industry - Al Diar Hotels, Sunshine Tours, Al Ghazal Transport and ADNH Compass.
For more information, please contact:
Ammar Al Thuwaini/ Olivia Olarte
ASDA'A Burson-Marsteller
Abu Dhabi, UAE
Tel: +971-2-6334133
Fax: +971-2-6334137
Abu Dhabi National Hotels (ADNH) was established in 1978. After more than three decades, the company has grown both in size and diversity into a quality, broad-based hotel, tourism, transport and catering group. ADNH owns and/or manages several 5-star and 4-star hotels in Abu Dhabi, Al Ain, Dubai and Fujairah. In addition the company has four subsidiaries focused on the hospitality industry - Al Diar Hotels, Sunshine Tours, Al Ghazal Transport and ADNH Compass.
For more information, please contact:
Ammar Al Thuwaini/ Olivia Olarte
ASDA'A Burson-Marsteller
Abu Dhabi, UAE
Tel: +971-2-6334133
Fax: +971-2-6334137
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