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FINANCIAL NEWS
Abu Dhabi hotel occupancy up 10.9 percent in Nov.
12 Jan 2014
A HotStats survey shows that Abu Dhabi hotels saw growth in all major performance indicators in November, Arabian Business reported.
“In year to date terms, occupancies are 10.9 percent higher than the same period in 2012 and have helped boost top line revenues which have filtered through to the bottom line, driving a 24.1 percent increase in profitability,” said the managing director of TRI Hospitality Consulting Middle East.
The survey said that the improved performance was due to a number of events taking place in the emirate and an increase in leisure demand.
“Momentum has rapidly picked up in Abu Dhabi’s hotel market that has seen consistent growth in demand this year, particularly from the leisure segment,” he added.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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