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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 | 2.15 | -0.01 (-0.47 |
| ADNH | 0.52 | -0.01 (-1.89 |
| ADAVIATION | 5.23 | -0.01 (-0.20 |
| ALG | 1,351.00 | 6.00 (0.44 |
| IFAHR | 1,493.00 | -1.00 (-0.07 |
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Gulfnews
22/04/2025
National Bank of Kuwait (NBK) has announced its financial results for the three-month period ended March 31, 2025. The Bank reported a net profit of KD 134.1 million ($434.8 million), compared to KD
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Boubyan Bank has announced its financial results for Q1 of this year. The bank recorded KD 26.5 million in net profits at a growth rate of 6 percent compared with the same period of the past year, wi
Kuwait Times
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Zain, Kuwait's leading digital services provider, has been awarded the ISO 37301:2021 certification an internationally recognized standard for Compliance Management Systems (CMS).
As one of
Kuwait Times
22/04/2025
QNB Group, the largest financial institution in the Middle East and Africa, stated that the recently announced $2bn unsecured syndicated term loan facility aims at extending the bank's financing matu
QNA
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