Sharjah National Hotels Company, a subsidiary of Sharjah Islamic Bank (SIB), recorded a strong performance during the first half of this year, confirming the emirate’s position as a preferred destination for families.
The company reported an average of more than 70 percent occupancy during the first six months of 2017. A strong performance during the first half of the year helped the group increase its revenues from last year. The company recorded a one-digit growth in revenue in the first half of 2017 compared to last year.
The total income of Sharjah National Hotels Co. for the period from January to June increased by five percent compared with the same period last year. The net operating profit increased to more than AED1 million over the same period in 2016.
Ian Phillips, Chief Executive Officer of Sharjah National Hotels Company, said "We are pleased to achieve these results. The company's success levels have been encouraging so far, and seem to be in line with our expectations and targeted growth for this year."
"The second half of each year is always much better than the first half, which helps us achieve our strategic goals for the year," he added.