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Abu Dhabi National Hotels Company announces net profits of AED 170 mn in Q1
(14 May 2010)

 

Abu Dhabi National Hotels Company (ADNH), one of the UAE’s leading Hospitality icons in UAE, today announced a net profit for the first quarter 2010 of AED170 million an increase of 13% over the same period in 2009.

ADNH’s Hotel Division recorded a net profit of AED 75.70 million, while it’s catering division, ADNH-Compass, grew net profits to AED 27 million, a growth of 54% over the corresponding period last year. General Purchasing, Al Ghazal Transport and Sunshine Tours divisions also all achieved increased profits over the same period last year.

Al Ghazal Transport’s franchise taxi fleet is now operating at its full complement of 1,021 vehicles and is a longstanding market leader in Limousine, Bus and Taxi services in the capital. Sunshine Tours was recently restructured, and offers comprehensive tour and travel services to both inbound and outbound travelers and operates one of Abu Dhabi’s foremost Desert Camps located in the famous Al Khatin region of Abu Dhabi.

Abu Dhabi National Hotels is Abu Dhabi’s foremost hospitality company involved in all aspects of hospitality including Hotels, Catering, Transport and Tours. ADNH continues to grow it’s hotel portfolio and is presently at work constructing the 532 room, suites and villas , Grand Canal Hotel and Villas, Abu Dhabi, located between the two bridges and scheduled to open in the second quarter of 2011, while the construction of the 306 rooms Park Hyatt Hotel and Villas Abu Dhabi progresses well towards reaching its goal of being the first hotel to operate on Saadiyat Island.

Richard W. Riley, Chief Executive Officer of ADNH, attributed the strong results to the ability to execute a series of strategic business initiatives covering all hospitality sectors.

He stressed that "ADNH’s has had excellent growth from our business lines in the first quarter of 2010 and demand is expected to increase going forward particularly in the Hotels business despite the challenging environment, "We are confident that the results of the first quarter are a sound basis for improving performance for the remainder of the year," Mr. Riley concluded.
 



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