ADNH reports $25mn increase in revenues in Q3 2013

Abu Dhabi National Hotels (ADNH) financial results for the first nine months of 2013 have revealed that ADNH posted AED 842mn (US $230mn) in operating revenue, an increase of AED 93mn ($25mn) compared to the same period in 2012.

ADNH’s gross profit now stands at AED 95.7mn ($26mn) while net profit was recorded at AED 58.83mn ($16mn) for the same period, with ADNH's total assets now standing at AED9.62bn ($ 2.62bn).

According to ADNH’s financial report the company’s hotel division, consisting of both internationally-branded owned hotels as well as its Abu Dhabi-based brand Al Diar, contributed significantly towards the profitability of the company.

The strong performance of the company's biggest hotels such as the Park Hyatt Abu Dhabi Hotel & Villas, Sofitel Dubai Jumeirah Beach and Ritz-Carlton Abu Dhabi, Grand Canal all led to an increase in the total revenue of the company's hotel division to AED 562mn ($153mn) compared to AED 468mn ($127mn) during the same period in 2012.