ADNH Profit Boosted By Catering Business
March 17- Abu Dhabi National Hotel’s (ADNH) core lodging performance was weak last year but profits were lifted by catering operations. ADNH said its profits last year were 48 percent higher at Dh432.9 million (US$117.8). ADNH, which owns hotels in Abu Dhabi including Le Meridian and Hilton, also operates a catering division through a joint venture with the Compass Group of the UK, and owns and manages Al Ghazal Transport and Sunshine Tours. The catering division grew 32 percent to Dh82 in 2009, but its hotel division softened compared to 2008.
ADNH Chairman Saif al Hajeri said “Although a diversified company, ADNH’s core strength is and will remain hotels and tourism, and our sector has faced tremendous challenges in 2009 due to the unstable global economic situation.” Mr. al Hajeri noted that occupancy in ADNH hotels declined last year and this year will be challenging as well. However, he said the company is moving forward with expansion in the capital including development of its high end JW Marriot resort, set to open this year.
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