Gulf Hotels Group reports Q1 2025 financial results
Earnings per share were 11 fils compared to 12 fils in the first quarter of last year.
Total comprehensive income was BD2.542m compared to BD2.382m for the first quarter of the previous year, with an increase of BD160,000 or 7pc.
Revenue for the first quarter was BD8.611m, compared to BD8.983m for the same period last year, with a decrease of BD373,000 or 4pc.
The total equity (excluding minority interests) for the period ended March 31, 2025 was BD102.424m compared to BD105.532m as of end-2024, with a decrease of BD3.108m or 3pc.
The total assets for the period ended March 31, 2025 reached BD113.786m compared to BD112.862m as of end-2024, with an increase of BD924,000 or 0.8pc.
Gulf Hotels Group chairman Fawzi Kanoo commented: 'The first quarter of 2025 financial results reflect the continued strength of our portfolio. The group delivered a resilient performance, achieving a net profit of BD2.452m compared to BD2.663m in Q1 2024, despite seasonal challenges and lower travel activity during Ramadan, which impacted hotel occupancy and F&B operations.
'Looking ahead, we remain optimistic about the hospitality sector's prospects in Bahrain supported by the ongoing government initiatives and efforts to promote tourism. The group will remain firmly focused on driving operational excellence, capitalising on growth opportunities and delivering sustainable value for our shareholders.'
Gulf Hotels Group chief executive Ahmed Janahi said: 'We delivered a solid financial performance in the first quarter of 2025, underscoring the resilience and operational strength of our portfolio, despite a seasonal dip in tourism during Ramadan. The market occupancy rates declined by 4pc from 54.2pc in Q1 2024 to 52.1pc this year and revenue per available room (RevPAR) saw a sharper year-on-year decline by 11.7pc, reflecting both lower occupancy and rate pressure during the period.'
He added: 'Looking ahead, we remain confident in our performance trajectory for the second quarter and beyond, supported by major events such as the Formula 1 Grand Prix and Eid holidays, which are expected to drive growth across all our business segments. We are also making meaningful progress on several strategic initiatives, including the integration of Gulf Hotel Bahrain into Marriott Bonvoy, the rollout of innovative F&B concepts, and the pursuit of new expansion opportunities across the region. These initiatives are central to our long-term vision of driving sustainable growth and creating long-term value to our shareholders.'
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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