Omran Group reports strong financials with OMR25mn net profit in 2024

30/05/2025 02:43 AST

Oman Tourism Development Company (Omran Group) announced robust financial and operational results for 2024, reaffirming its central role in advancing tourism development and sustainable economic growth in the Sultanate of Oman. The Group achieved a net profit of OMR25.2 million with revenues surpassing OMR58.3 million, reflecting its operational efficiency and institutional excellence.

During its recent meeting, Omran Group's Board of Directors reviewed these accomplishments and discussed ongoing financial and operational developments. The Board emphasised the Group's continued commitment to supporting economic diversification efforts and enhancing quality tourism investments across Oman.

The financial results demonstrate Omran Group's success in attracting strategic investments, including foreign direct investment exceeding OMR156 million in 2024. This achievement aligns with Oman Vision 2040's objectives to increase foreign investment inflows and expand various economic sectors' contributions to GDP.

In the hospitality sector, Omran Group strengthened its operational performance by welcoming 820,365 guests across its hotel properties in 2024, representing 6% growth compared to the previous year. The Group achieved an average occupancy rate of 45%, marking a 2.6% year-on-year increase. The year also saw the official opening of JW Marriott Hotel Muscat, which has become a distinguished addition to Oman's luxury hospitality landscape.

As part of its strategy to position Oman as a premier global tourism destination and attract world-class hospitality brands, Omran Group announced several landmark projects. These include a partnership to develop the Middle East's first Club Med resort and a strategic collaboration with Santani Wellness Resorts to enhance medical tourism in Al Dakhiliyah Governorate.

Demonstrating its commitment to sustainability and local value creation, Omran Group achieved a 40% local value-added index. The Group allocated over OMR19 million to support small and medium enterprises, which accounted for 34.7% of total expenditure. Omran Group's nationalisation efforts resulted in 370 new job opportunities for Omani talent, with Omanisation rates reaching 94% in the parent company and 53% across subsidiaries.

The Group further strengthened its corporate governance practices by launching its Environmental, Social, and Governance (ESG) Framework in 2024. This initiative institutionalizes sustainability principles and enhances transparency while adhering to global best practices across all operations and projects.

These positive results underscore Omran Group's continued leadership as the primary driver of tourism sector development in Oman, achieved through close collaboration with relevant authorities including the Ministry of Heritage and Tourism.

Muscat Daily