Abu Dhabi’s NCTH announces hotel profits drop in H1

August 18, 2014 9:33 am

The National Corporation for Tourism and Hotels (NCTH) in Abu Dhabi announced that its profits from hotel operations dropped by 12% in the first half of this year, due to a drop in revenues and increase in costs. Chaired by H.H Sheikh Hamdan Bin Mubarak Al Nahyan, the company owns Intercontinental Abu Dhabi and through its Danat Hotels & Resorts division, operated properties including Tilal Liwa Hotel, Al Raha Beach Hotel and Sands Hotel, Hotelier Middle East reported. According to its financial statements for the first half of the year, filed with Abu Dhabi Securities Exchange, its operating revenues in its hotels segment were Dhs148.4m ($40.4m) in the six months to the end of June, down 2.5% on the same period in 2013.