Please wait...
GulfBase Live Support
- Saudi riyal symbol: strategic step toward global financial standing
- Bahrain All Share Index, Islamic Index close lower
- Oman's non-oil exports fall 16% in 2024; re-exports rise 15%
- Oman ranks 58th in 2025 Economic Freedom Index
- QCB foreign reserves grow 3.81% in February 2025
- Doha Bank announces exclusive benefits for NRIs on Visa Platinum Debit Card
- China-US trade war heats up with Beijing's tariffs to take effect
- Saudi Awwal Banks becomes first bank in Saudi Arabia to win Sustainability Program Award 2024 at Capital Markets Forum
- Qatar's international reserves climb 3.81% to $70.29bn in February
- Closing Bell: Tadawul rises on positive trading day, Nomu follows suit
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 | 2.25 | -0.07 (-3.02 |
| ADNH | 0.57 | 0.00 (0.00 |
| ADAVIATION | 6.18 | -0.10 (-1.60 |
| IFAHR | 1,784.00 | 4.00 (0.22 |
| ALG | 1,235.00 | -15.00 (-1.20 |
10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia