Emirates Group saw a significant rise in revenues from its hotel operations in the last financial year, driven by the performance of its flagship JW Marriott Marquis Dubai property.
The company released its annual report today (8 May) for the financial year ending March 31, in which it revealed an overall 40.2% surge in operating profit to AED5.1 billion (US $1.4 billion). This came from total revenues of AED87.8 billion ($23.9 billion), up 13.2%.
The period marked the first full year of operations at the Emirates-owned JW Marriott Marquis Dubai. Tower 1, comprising 804 rooms, was fully operations, while 294 of the 804 rooms in Tower 2 became operational in February.
As a result of this, Emirates’ revenue from hotel operations was up 68.8% to AED395 million (US $107.5 million. It added that the hotel also accounted for a “substantial” part of the 24.5% increase in food and beverage revenue to AED625 million ($170.2 million)
In its main airline business, Emirates said it handled 44.5 million passengers during the period, up 39.4%, while it increased its number of aircraft from 197 to 217.
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