Abu Dhabi Hotels sees profit up 48% for 2009

Total operating revenue up 3.7% to $491m; net profits rise to $118m in 2009.
Abu Dhabi Hotels sees profit up 48% for 2009
LUXURY: Abu Dhabi National Hotels, operator of the Hilton and Le Meridien franchises in the emirate, has had a great year.
By Ed Attwood
Sun 14 Feb 2010 03:40 PM

Leading hospitality firm Abu Dhabi National Hotels (ADNH) has announced that its full-year profit rose by 48 percent in 2009 over the previous year.

In preliminary results posted on the Abu Dhabi bourse website, the company added that total operating revenue increased by 3.7 percent to $491m. Net profits rose to $118m from $80m in 2008

ADNH owns a number of major hotels, all but one of which is based in Abu Dhabi emirate. Included in the firm’s portfolio are the locally operated Hilton and Le Meridien franchises, as well five Al Diar hotels.

The company also owns the Al Diar Siji hotel in Fujairah.

Earlier in February, ADNH chairman Saif Mohammed Al Hajri told the WAM news agency that the company had received a $410m loan to fund new projects in Abu Dhabi.

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