Tuesday, 22 July 2008

Gulf Hotels Group profits sours 55.4%

Bahrain's Gulf Hotels Group posted first half net profits up 55.4 percent. The company, which owns and operates the Gulf Hotel, Gulf Convention Centre, Gulf Executive Residence and Gulf Brands International, saw gross operating revenue ahead by 23.1 percent, to 14.8 million dinars.

The increase in profits is largely down to the renovation work done at the hotel as much as the growth in the economy of the region due to high oil prices.

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