Occupancy Rate of 86% Across Its Properties from January to June
Dubai, UAE-: Central Hotels & Resorts, one of the fastest-growing hospitality management companies in the UAE, has delivered a resilient financial performance in the first half of 2024, showcasing both strength and adaptability in a fluctuating market. Despite challenges, the company demonstrated significant improvement in revenue in the first quarter compared to the same period last year.
Throughout the first six months, Central Hotels & Resorts achieved an average occupancy rate of approximately 86% across its properties, slightly trailing last year’s performance. Positive guest feedback and satisfaction levels have played a crucial role in gaining market share from competitors, reflecting the brand’s commitment to delivering exceptional experiences.
A notable market trend observed in the first half of the year includes a shift in demand towards other GCC countries, particularly Saudi Arabia, impacting overall performance. To counteract this, Central Hotels & Resorts has implemented several significant operational changes to enhance performance. These include personalized guest services, dynamic pricing strategies, targeted marketing campaigns, and comprehensive employee training programs. These initiatives have improved guest satisfaction, optimized revenue streams, and increased occupancy rates.
The rooms and food & beverage (F&B) segments have performed exceptionally well during this period, with expectations for further growth in the remaining quarters. Despite the volatile market conditions and lower demand compared to the previous year, these segments have shown remarkable resilience and growth potential.
The main challenges faced by Central Hotels & Resorts in the first half of the year were largely market-driven. However, these challenges have opened up opportunities for strategic revenue and marketing planning moving forward. The company’s marketing and promotional strategies have proven effective, with successful campaigns such as the ongoing Summer Getaway Deal, which has been running since January 2024, significantly enhancing its market presence.
Central Hotels & Resorts has also made commendable progress in its
sustainability and corporate social responsibility (CSR) initiatives over the past six months. Efforts include adopting environmentally friendly F&B practices to reduce single-use plastic consumption, installing water-efficient equipment to conserve water, implementing sensor-based lighting and power-saving modes to reduce electricity usage, and transitioning to sustainable waste management practices. These initiatives underscore the company’s commitment to sustainability and responsible resource management.
Looking ahead, Central Hotels & Resorts is optimistic about the next six months, with promising growth opportunities on the horizon. The company aims to increase market share with improved Average Daily Rates (ADR) and anticipates closing 2024 with stronger results than the previous year.
“Our performance in the first half of 2024 reflects our team’s dedication and the effectiveness of our strategic initiatives. Despite market fluctuations, we have achieved significant milestones in guest satisfaction, operational improvements, and sustainability efforts. We remain focused on enhancing our services and expanding our market presence to achieve even greater success in the second half of the year,” said Abdulla Al Abdulla, Chief Operating Officer and Group General Manager of Central Hotels and Resorts.
