August 5, 2022

Sharjah National Hotels posts 122% surge in H1 profits

categories : tourism

Sharjah National Hotels Company, affiliated with Sharjah Islamic Bank, has recorded a strong performance during the first half (H1) of this year, achieving a 122 percent average increase in gross profit.

This increased total income by 38 percent, bringing Sharjah National Hotels Company closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence, reported Emirates News Agency WAM.

The company announced an occupancy rate of 67 percent across the two operational hotels, 'Marbella Resort', and the 'Oceanic Khorfakkan Resort and Spa', which indicates the attractiveness of the emirate of Sharjah as a safe and preferred global tourist destination for families that enriches and enhances their experience and confidence.

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. Additionally, we continuously endeavour to provide an exceptional, diverse and innovative tourism experience to consolidate the leading cultural position that the emirate enjoys among global destinations.'

'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. We are confident that the transformation will be well received, and tourists will be impressed by the quality of accommodation, service and the strategic location of the emirate of Sharjah, which adds significant tourist value,' 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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