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ADNH posts 24.8% fall in 2012 profit
- United Arab Emirates: Saturday, February 02 - 2013 at 05:30
Abu Dhabi National Hotels (ADNH) has said its net profit for 2012 fell 24.8% year-on-year to Dhs198m ($53.9m), due to the costs associated with the Park Hyatt hotel, The National has reported. Revenue rose by 1$% during the year to Dhs1.8bn, said ADNH. "The 2012 results were achieved in a very challenging market while the city continues to experience unprecedented growth in hotel inventory," said ADNH chairman, Salem Mohamed Athaith Al Ameri.
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