Abu Dhabi National Hotels' Q1-2021 profit at Dh41m, but shows big drop from last quarter
Hotel operations contributed Dh20m to Q1-2021 bottomline
Dubai: Abu Dhabi National Hotels managed a year-on-year gain in net profits to total Dh41 million for the first three months of 2021 against Dh16 million a year ago. But compared with its performance during the October to December period, profit numbers show a decline.
In the fourth quarter, one of the biggest names in the local hospitality business had net profit of Dh238 million, buoyed by the return of international flights and travelers. Even then, the Q1-2021 tally represents strong gains over the losses of Dh58 million and Dh34 million suffered during the second and third quarter of last year.
It will again require the reinstating of flights on key sectors for the hotel sector to return to a sustainable growth trajectory.