RAK Hospitality registers 17% revenue growth in Q1 2018

RAK Hospitality registers 17% revenue growth in Q1 2018
Yiannis Anagnostakis.
Published: 18 April 2018 - 3:10 a.m.
By: Shishira Sreenivas

RAK Hospitality Holdings (RAKHH), an integrated asset owner and manager of Ras Al Khaimah-owned hospitality investments, reported a growth of 17% revenue growth in the first quarter of 2018 ahead of the Arabian Hotel Investment Conference (AHIC) which is being held for the first time in Ras Al Khaimah from April 17-19, 2018.

The company also reported that it ended 2017 with an overall growth of 6.5% which included investments across its subsidiaries.

Its subsidiary RAK National Hotels (RAKNH), through its two-year investment plan, saw the opening of Hilton Garden Inn Ras Al Khaimah in May 2017, the inauguration of The Ritz-Carlton Ras Al Khaimah Al Wadi Desert in November last year as well as the completion of the flagship Hilton Ras Al Khaimah Resort & Spa’s refurbishment in the first quarter of 2018.

RAKHH’s other subsidiaries like Hospitality Advisory Partners and RAK Hospitality Logistics have also expanded services, a statement said. Hakaya Collection, which focuses on dining and leisure, expanded its services to Dubai for the first time with the opening of the first Kona Grill at Al Seef Dubai.

Commenting on the growth, RAKHH CEO Yiannis Anagnostakis said that through the company’s presence at AHIC this year, he looks forward to discussing upcoming trends hospitality trends and to support development in RAK.


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