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.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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