Abu Dhabi's NCTH sees H1 hotel profits drop by 12% - Travel & Hospitality - ArabianBusiness.com:
"The National Corporation for Tourism and Hotels (NCTH) in Abu Dhabi saw its profits from hotel operations fall by 12 percent in the first half of this year, due to a drop in revenues and increase in costs.
Chaired by 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.
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 AED148.4 million ($40.4 million) in the six months to the end of June, down 2.5 percent on the same period in 2013."
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