Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Bahrain All Share Index, Islamic Index close higher
- CBB Government Development Bond issue 39 oversubscribed by 308%
- Closing Bell: TASI closes in green at 11,764
- Qatar, Germany discuss mutual investments to strengthen ties
- Al Ahlia wins contract to build largest Merc-Benz facility in Kuwait
- Quarterly earnings announcements, tariff hold support stock market's rise: financial analyst
- Gold rebounds on dip buying despite US-China trade deal hopes
- China says US should revoke unilateral tariffs, denies talks
- Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group
- World Bank forecasts MENA growth at 2.6% in 2025, 3.7% in 2026
31/03/2014 07:11 AST
The board of National Hotels Company has an optimistic outlook for the hotel sector and the economy in general.
The company's chief executive Abdulrahman Morshed told the GDN on the sidelines of the Annual General Meeting (AGM) that he expected occupancy levels at the Diplomat Radisson Blu Hotel Residence and Spa to be more than 50 per cent during the year, based on the trends of the first quarter.
"The completion of the refurbishment of the Grand Ballroom in August will further assist in improving results," he said.
Last year the company saw occupancy rise to 46pc from 41pc in 2012. Total company revenue increased by 15pc compared to the previous year.
Net profit for the year increased by 25pc and earnings per share rose to 26fils from 21fils in 2012.
During the meeting, the members of the board pointed out that last year's report has proven, without a shadow of a doubt, the gradual recovery of the Bahrain market in general and the tourism and hotel sectors in particular.
The increase in hotel revenues through higher room occupancy and other revenues resulting in an improved net profit of the company compared to last year is a clear proof of this fact, they said.
Chairman Faisal Al Zayani said that on the office building front, the signing of a lease agreement with the Social Insurance Organisation gave a significant boost to the building occupancy, raising it to 35pc.
The company was negotiating similar agreements with other government agencies, the chief executive said.
Gulf Daily News
30/03/2015
Bahrain-based National Hotels Company's flagship the Diplomat Radisson Blu Hotel, Residence and Spa has seen a 30 per cent improvement in occupancy during the first quarter of the year, a top company
Gulf Daily News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| AMR | 2.19 | -0.04 (-1.80 |
| ADNH | 0.52 | 0.00 (0.00 |
| ADAVIATION | 5.30 | 0.01 (0.18 |
| IFAHR | 1,479.00 | -32.00 (-2.12 |
| TAALEEM | 3.66 | 0.06 (1.66 |
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia