Al­dar's ho­tel port­fo­lio rev­enues up 13pc

The Pak Banker - - COMPANIES/BOSS -

ABU DHABI: Al­dar prop­er­ties said on Thurs­day that the rev­enues for its ho­tel port­fo­lio for first six months of 2014 reached Dh283 mil­lion, mark­ing an in­crease of 13.1 per cent from the same pe­riod last year.The av­er­age oc­cu­pancy rates within its ho­tel port­fo­lio at the end of June 2014, mean­while, stood at 82 per cent com­pared to 78 per cent in 2013, Al­dar stated.It added that the com­pany's strong per­for­mance re­flects a sub­stan­tial in­crease in leisure and cor­po­rate vis­i­tors to Abu Dhabi, par­tic­u­larly to Yas Is­land. In ad­di­tion, food and bev­er­age rev­enues across the port­fo­lio were up 11.4 per cent in the first six months of 2014 reach­ing Dh113.9 mil­lion from Dh102.2 mil­lion dur­ing the same pe­riod last year.

Key com­po­nents to this growth were cor­po­rate meet­ings, in­cen­tives, con­fer­ences, and ex­hi­bi­tions (MICE), and leisure seg­ments that made up 60 per cent of rooms oc­cu­pied, as per the state­ment. And the top five feeder mar­kets across the port­fo­lio in­cluded guests from the GCC, In­dia, Ger­many, UK and China.Al­dar cur­rently owns and man­ages nine ho­tels across the UAE, seven of which are lo­cated on Yas Is­land in­clud­ing the iconic Yas Viceroy ho­tel built around the F1 Yas Ma­rina Cir­cuit, and six plaza ho­tels run by dif­fer­ent oper­a­tors.The port­fo­lio also in­cludes the award win­ning 18-hole golf course, Yas Links, and Yas Beach. The com­pany will be open­ing the 195-key Court­yard by Mar­riott in the WTC Abu Dhabi de­vel­op­ment to­wards the end of the year.Talal Al Dhiyebi, Ex­ec­u­tive Di­rec­tor of As­set Man­age­ment at Al­dar Prop­er­ties said that in a state­ment that the com­pany owns and op­er­ates one of the largest hos­pi­tal­ity and leisure port­fo­lios in Abu Dhabi, en­hanc­ing the cap­i­tal's po­si­tion as a lead­ing en­ter­tain­ment and leisure desti­na­tion."Our first-class fa­cil­i­ties that meet the de­mands of a broad range of leisure vis­i­tors have driven year-on-year oc­cu­pancy in­creases. We are also wit­ness­ing high de­mand from cor­po­rates with bulk book­ings for con­fer­ences and events. De­mand growth within the ho­tel mar­ket has co­in­cided with strong tourism fig­ures as a re­sult of the grow­ing at­trac­tions that are on of­fer through­out Abu Dhabi such as the award-win­ning Yas links golf course," he said."All our ho­tels are lo­cated in unique ar­eas across the Emi­rate. Yas Is­land for ex­am­ple has emerged as a unique, all-en­com­pass­ing hos­pi­tal­ity and en­ter­tain­ment desti­na­tion. With easy ac­cess to the air­port, Yas Links, Yas Water­world and Fer­rari World, the is­land is one of the many great at­trac­tions that have helped us grow in the sec­tor. With the open­ing of the Yas Mall, Abu Dhabi's first su­per re­gional mall, in Novem­ber 2014, Yas Is­land will con­tinue its evo­lu­tion to­wards be­com­ing the re­gion's lead­ing leisure and en­ter­tain­ment desti­na­tion," he added. -

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