Abu Dhabi National Hotels achieves 27.8 Percent profit growth

Abu Dhabi National Hotels (ADNH) announced yesterday that its profits for the first nine months ending 30th September 2009 reached Dh372.5 million - an increase of 27.8% over Dh291.5 million for the corresponding period in 2008. The company recorded a 6% increase in operating revenue over the corresponding period of 2008 reaching Dh1.319 billion.

Commenting on the results, Chairman of ADNH, Saif Mohamed Al Hajeri said, "ADNH continued to thrive across all business divisions. Hotel operations are performing positively as high rates of occupancies and stable room rates were registered in all International and Al Diar hotels. We are proud to note that the catering and general purchasing divisions have in particular boosted their performance and achieved significant increases on business levels as compared to the same period in 2008. A busy event schedule at ADNEC, strong marketing initiatives driven by ADTA and the continued addition of new routes by Etihad Airways serve to enhance the performance of ADNH."

CEO of ADNH, Richard Riley added, "ADNH will continue to grow its portfolio of properties, with the construction of the Grand Canal Abu Dhabi in the two bridges area which we hope will be delivered on schedule for its 2010 opening. In addition, construction works on the Park Hyatt Saadiyat Island property have commenced and are ahead of schedule. They are due for completion early 2011." Riley said that the 438-room, five star, Sofitel Jumeirah Beach Hotel, is now in its pre-opening phase which will increase ADNH's property portfolio in Dubai.  "With strong performance for the first nine months and a positive outlook for the remainder of the year, ADNH is confident of achieving record results for 2009", he concluded. - Emirates News Agency, WAM