KHI Projects 50% Increase In Revenue
Kingdom Hotel Investments (KHI) reported yesterday that they expected a 50% growth in consolidated revenue for 2008 compared to the 80% growth rate during the previous year ($178.6mm or Dh655mm). The company said that net income growth is driven by hotel performance and real estate sales. Also, the company’s foreceast comes in advance of their announcement of financial results for year ending 31 December 2008, scheduled for 12 March 2009.
KHI also reported that their earnings before interest, tax depreciation, and amortization (Ebitda) is expected to increase by 40% compared to 36 million in 2007.
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