13/08/2025 06:06 AST
Gulf Hotels Group, a leading Bahraini hospitality company, has released its financial results for the six-month period ending June 30, 2025.
In the second quarter of 2025, the company reported a net profit of BD2.8 million ($7.4 million), up from BD2.1 million in the same quarter of the previous year, reflecting an increase of BD0.7 million or 29.7 per cent.
Earnings per share rose to BD0.12 from BD0.9 last year.
Total comprehensive income for the quarter was BD2.6 million, compared to BD1.8 million in the previous year, marking a 39 per cent increase of BD0.7 million.
Revenue for the second quarter reached BD10.1 million, a rise from BD9.4 million, indicating a growth of BD0.7 million or 7 per cent.
For the first half of 2025, the company achieved a net profit of BD5.2 million, compared to BD4.8 million for the same period last year, which is an increase of BD0.42 million or 9 per cent.
Earnings per share for this period were BD0.23 , up from BD0.21.
Total comprehensive income for the six months was BD5.1 million, compared to BD4.2 million last year, reflecting a 21 per cent increase of BD0.9 million.
Revenue for the half-year was BD18.7 million, slightly up from BD18.4 million, showing a growth of BD0.3 million or 2 per cent.
As of June 30, 2025, total equity (excluding minority interests) was BD105 million, down from BD106 million at the end of 2024, a decrease of BD0.7 million or 0.6 per cent.
Total assets at this date amounted to BD111 million, compared to BD113 million at the end of 2024, representing a decrease of BD2.1 million or 2 per cent.
Fawzi Kanoo, Chairman of Gulf Hotels Group, stated: "Gulf Hotels Group delivered a strong performance in the first half of 2025, marked by solid growth in both revenue and net profit. This positive momentum reflects our firm commitment and continued efforts to drive sustainable growth across all our portfolio."
Kanoo added: "Major events, most notably the Formula 1 Grand Prix, alongside the holiday season, played a pivotal role in stimulating travel activity and boosting hotel occupancy across the Kingdom of Bahrain. Looking ahead, we remain optimistic about maintaining our positive momentum into the second half of 2025, supported by ongoing government initiatives aimed at developing the tourism sector. We are committed to enhancing operational efficiency across our portfolio while pursuing strategic opportunities within Bahrain and across the GCC region to further expand our footprint and deliver long-term, sustainable value to our shareholders."
Ahmed Janahi, Chief Executive Officer of Gulf Hotels Group, affirmed: "The Group continued to build on its strong momentum throughout the second quarter and first half of 2025, delivering solid year-on-year profit growth of 30 per cent for the quarter and 9 per cent for the six-month period, reflecting effective portfolio management and enhanced operational efficiencies".
Janahi further noted: "The official integration of Gulf Hotel Bahrain into the global Marriott Bonvoy loyalty program in April 2025 marked a significant milestone in our transformation journey. This strategic move has elevated the hotel's presence on the global hospitality map and unlocked new opportunities to attract a broader segment of international guests and Bonvoy members, positively impacting occupancy rates and operating revenues in the coming years."
He also revealed that the Group is set to launch a new catering company under its umbrella, dedicated to serving diverse sectors including educational institutions, healthcare facilities, corporate clients, and private events.
In addition, the company will operate a cloud kitchen model to expand its reach into delivery-focused food services.
He stated: "This initiative represents a valuable addition to our business portfolio, strengthening income diversification and supporting our broader institutional expansion plans."
Janahi concluded by noting that the Group is currently assessing several promising opportunities to grow its portfolio through the management of hotels and serviced apartments, alongside plans to expand its renowned restaurant brands across Bahrain and the Kingdom of Saudi Arabia.
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