Abu Dhabi National Hotels net profit rises by 3%

Dubai:

Abu Dhabi National Hotels (ADNH) said on Tuesday it reported a 3 per cent rise in net profit in 2016. ADNH recorded a net profit of Dh244 million in 2016 as against Dh237 million last year.

During the year, the hospitality industry across the UAE remained under pressure and the hotels in Abu Dhabi dropped in both RevPar (Revenue per Room), ADR (Average Daily Room rate) and occupancy level in comparison to 2015.

ADNH’s hotel division posted Dh844 million in total revenue and Dh76 million in net profit during 2016. The retail division generated total revenue of Dh196 million and recorded as net profit of Dh79 million. The transport division posted Dh294 million in total revenue and Dh35 million net profit.