• HSBC

ADNH posts Dhs324m net profits, Dhs950m revenues in H1

  • United Arab Emirates: Thursday, July 30 - 2009 at 15:58
  • PRESS RELEASE

Abu Dhabi National Hotels (ADNH), a leading hospitality group in the UAE with interests in hotels, transportation, travel, tourism and catering, today announced its financial results for the first half of this year.

The company's H1 net profits ending 30 June 2009 reached Dhs324.2m, posting a 17.1% growth over the corresponding period of 2008. ADNH's consolidated revenues were Dhs950.6m.

Commenting on the outstanding performance, HE Saif Mohammed Al Hajeri, ADNH's Chairman, said:
"Despite the challenging environment, ADNH has continued to thrive in all of its business operations. The hotel division achieved excellent results with respect to revenues and occupancy rates for both ADNH's international brands and the Al Diar Group. Catering and General Purchasing Divisions in particular have enjoyed significant increases in business as compared to the corresponding period last year."


"Such remarkable results were possible thanks to the consistent efforts undertaken by Abu Dhabi Tourism Authority, Etihad Airlines, and Abu Dhabi National Exhibition Center that raise the profile of the Abu Dhabi as the region's catalyst for business, tourism and the MICE sector," he added.

This week ADNH inaugurated Al Diar Barsha Hotel Apartments, an 87 suite hotel close to Mall of the Emirates, Dubai Media City, and the American University in Dubai (AUD). The soft launch of ADNH's five star 438 room Sofitel Jumeirah Beach Hotel, part of the dynamic residential and entertainment hub known as JBR, is about to take place.

ADNH's CEO, Richard Riley explained, "ADNH will continue to expand its portfolio of properties designed to set new trends in the hospitality sector both within the UAE and the region. The construction of ADNH's Grand Canal Abu Dhabi, a JW Marriot hotel, is progressing very well and is on target for completion mid - 2010. In addition, construction of the Park Hyatt Saadiyat Island has commenced, scheduled for opening by early 2011. This development will be an integral and highly important addition to the growing number of luxury hotels in Abu Dhabi."

"With strong performance for the first six months and a positive outlook for the remainder of the year, ADNH is confident of achieving record results for 2009," Mr. Riley concluded.
 
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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 based hotel, tourism, transport and catering group. ADNH owns and operates 5 and 4-star hotels in Abu Dhabi, Al Ain, Dubai, Fujairah, Morocco and Egypt. In addition the company has four subsidiaries focused on the hospitality industry - Al Diar Hotels, Al Ghazal Tours & Travel, Al Ghazal Transport and ADNH Compass.


For more information, please contact:
Ammar Al Thuwaini/ Charbel Tanios
ASDA'A Burson-Marsteller
Abu Dhabi, UAE
Tel: +971-2-6334133
Fax: +971-2-6334137

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