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Abu Dhabi National Hotels records Dh842m in operating revenue

Dubai: The UAE-based hospitality company Abu Dhabi National Hotels (ADNH) said in a statement on Tuesday that it has recorded an increase of Dh93 million in operating revenue for the first nine months of the year, compared to the same period last year.

Operating revenue stood at Dh842 million, while gross profit for the same period reached Dh95.7 million and net profit was at Dh58.83 million.

Also, total assets for the company stood at Dh9.62billion as of September 30, 2013.

“The hotel division, consisting of both internationally-branded owned hotels as well as its Abu Dhabi-based brand, Al Diar, and the retail division contributed significantly towards the profitability of the company,” the company stated.

The positive performance of the company’s hotels, including Park Hyatt Abu Dhabi Hotel and Villas, Sofitel Dubai Jumeirah Beach and Ritz-Carlton Abu Dhabi, Grand Canal, increased total revenue of the company’s hotel division to Dh562 million in the nine months ending in September, up from Dh468 million recorded in the corresponding time a year ago.

Meanwhile, the company’s retail division saw profit reach Dh49 million, while its transport business registered a total revenue of Dh176.96 million, and share of profits from the company’s joint venture catering division stood at Dh67.88 million.