SNHC posts 122% jump in profit

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The company announced an occupancy rate of 67 percent across the two operational hotels, "Marbella Resort", and the "Oceanic Khorfakkan Resort and Spa". (WAM)
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  • The improved performance brought the hotel group closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence
  • The hotel group is looking for opportunities to expand its portfolio of managed hotels and catering contracts

Sharjah National Hotels Company posted a 122 percent rise in gross profit during the first half of 2022, with income increasing by 38 percent.

The improved performance brought the hotel group closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence.

There was an increase in occupancy rate to 67 percent across the two operational hotels, “Marbella Resort”, and the “Oceanic Khorfakkan Resort and Spa”.

Ian Phillips, Chief Executive Officer of Sharjah National Hotels Company, said, “This growth, evidenced by the results of the first half of 2022, is in line with our strategy to enhance and support the tourism sector as one of the most important pillars of the national economy in the UAE.”

“Summer is an attractive time for tourists, and bookings are already increasing for the school holiday period. In end of Quarter three, we will be ready to reopen Hotel “Holiday International”, which has been completely renovated,” he added.

Sharjah National Hotels Company is exploring additional opportunities to expand its portfolio of managed hotels and catering contracts, to complement and build on existing contracts.

In addition, the company strives to create a general and integrated development plan for all the buildings, facilities and services of tourist resorts such as the “Marbella Resort”, “Holiday International”, and “Oceanic Khorfakkan Resort and Spa”, which contributes to the attractiveness of Sharjah.

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