AED 65 million of net profit registered in first quarter

Abu Dhabi, 9 May 2012: Abu Dhabi National Hotels PJSC (ADNH), the leading diversified UAE-based hospitality company with interests in hotels, catering and contract, transport and retail, today announced its financial results for the first quarter of this year, ending 31st March 2012. 

In the first quarter of the current year, ADNH posted AED 477.129 million of operating revenues, and AED 80.858 million gross profit. ADNH also reported AED 65.826 million net profit in the first quarter, and the company's total assets stood at AED 10,404 million. 

According to the financial report issued by the company, ADNH has seen strong performance and steady growth of its subsidiaries, led by the catering and contracts services, hotels, retail and transport services. The catering and contract services subsidiary reported AED 202.171 million in revenue while the hotel division, which includes prominent internationally branded hotels owned by ADNH as well as ADNH-developed, owned and managed Al Diar Group, accounted for AED 184.402 million of total revenue. The retail division also witnessed a healthy performance in the first quarter, posting AED 30.271 million in revenue and the transport services company Al Ghazal registered AED 64.846 million in the first quarter.  

ADNH recently opened Park Hyatt Abu Dhabi Hotel and Villas, the first Hyatt-branded property in the UAE's Capital, located on the prestigious natural island of Saadiyat along a more than five mile stretch of environmentally protected white sand beach. Situated within minutes of Abu Dhabi's prime business district and the Corniche, this stylish contemporary resort caters to both business and leisure travelers alike, offering spectacular unobstructed views of the waterfront and the Saadiyat Beach Golf Club from its guestrooms and restaurants.

ADNH is currently developing the Ritz-Carlton Abu Dhabi, Grand Canal, the first Ritz-Carlton property in the capital and which is expected to open in the final quarter of this year. This luxury hotel is designed to redefine the hotel experience in Abu Dhabi and is comprised of 395 luxury rooms, 52 suites and 85 independent villas situated in one of the most magnificent waterfront locations in the city on the Grand Canal in the Al Maqta Area directly adjacent to the Sheikh Zayed Grand Mosque.

About Abu Dhabi National Hotels PJSC
Founded over 30 years ago, Abu Dhabi National Hotels has grown in both size and diversity into a quality, broad-based hotel, retail, transport, and catering group.

Today, ADNH's operations cover the ownership and representation of 5-star hotels in Abu Dhabi, Al Ain and Dubai in addition to the Al Diar Hotels division, which has ten executive hotels. ADNH in partnership with major Abu Dhabi institutions also has investment interests in hotels and resorts overseas.

ADNH conducts a joint venture with Compass Group, the UK based catering group for its catering interests. Compass Group is the world's largest catering and services company, operating in over 94 countries.

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© Press Release 2012