ADNH upbeat, despite hotel downturn

A strong performance by its catering division kept Abu Dhabi National Hotels’ first half profit virtually unchanged from a year ago.

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By  David Ingham Published  August 3, 2003

Abu Dhabi National Hotels Co (ADNH) reported net profit of Dhs100.1 million for the first half of 2003, slightly up on Dhs100 million for the first half of 2002.

ADNH’s business interests include a catering division, tour company, transport company and various hotels carrying the Hilton, Le Meridien, Sheraton and Al Diar brand names. Khalifa Nasser bin Huwaileel Al Mansoori, chairman, said that strong performance by the company's non-hotel operations, especially the catering business, helped offset a downturn in the hotels division.

“Hotel groups around the world have been reporting a range of profit declines for the first months of this year and some hotel groups have reported actual losses in this period,” said Al Mansoori. “Our hotel division was naturally heavily impacted by the Iraq war and the SARS epidemic, both affecting international travel, including business and leisure visitors.”

Al Mansoori said that he looked forward to strong performance in the second half. “I feel confident that in the second half of this year we can continue the positive trend of our results and deliver to our shareholders the high level of investment returns they have come to expect recently from ADNH,” he said.

ADNH is currently completing the renovation of the Abu Dhabi Sheraton, which it expects to positively impact performance in the second half.

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