Dubai: Jumeirah Group, luxury hotel company and a member of Dubai Holding, saw operating profit and consolidated revenue grow by eight per cent last year over 2012, according to a statement on Thursday. It, however, did not disclose the actual numbers.
Revenue under management, meanwhile, was up 11 per cent.
Occupancy and average room rates across Jumeirah’s owned and leased portfolio was up five per cent, which led to a growth of 11 per cent in revenue per available room. Consolidated room revenue grew by 11 per cent.
The company’s food and beverage operations, meanwhile, delivered a seven per cent increase in revenues, Jumeirah said.
“2013 was a stellar year for Jumeirah Group, a year that concluded the announcement that Dubai would host the World Expo in 2020. We expect this to further enhance the energy that is going into the growth of Dubai as not only a destination for travellers, but also as a home for businesses, entrepreneurs and their families. The first quarter of 2014 has seen that momentum continue with strong occupancy in our hotels, restaurants and other businesses, strong demand for new hotel projects both in the Gulf region and internationally,” said Gerald Lawless, president and CEO of Jumeirah Group, in a statement.
Source markets
The UK is Jumeirah’s biggest source market, representing 16.4 per cent of total room nights sold. Revenue from visitors from the UK was up 26 per cent. It is also the largest source market for business into the European portfolio, contributing 18.7 per cent of revenue and up 12 per cent over the previous year, according to Jumeirah. Combined business from the Gulf countries accounted for 27.8 per cent of the European hotels’ room nights and 35 per cent of revenue.
Russia, meanwhile, is the company’s largest source of revenue, growing by 11.7 per cent and accounting for 16 per cent of the company’s revenue.
Saudi Arabia recorded an increase of 33 per cent in business, while China business was up 32 per cent and Australia grew by 70 per cent, boosted by the partnership between Emirates airline and Qantas Airways last year.
Agreements
Most of Jumeirah’s properties grew their market share, such as Jumeirah at Etihad Towers in Abu Dhabi (up 88 per cent) and Jumeirah Dhevanafushi in the Maldives (up 83 per cent).
Last year, the company signed hotel management agreements to operate a hotel in Russia and two hotels in Oman.
It signed letters of understanding in the Middle East, Asia, Africa and Europe which are expected to mature into management agreements this year.
It has plans for five more properties in China (in Guangzhou, Hangzhou, Sanya, Macau and Qindaohu), a resort in Bali, Indonesia and a hotel in Mumbai, India. Jumeirah expects to operate these properties between 2015 and 2017.
