A new expansion strategy will see Bahrain-based Gulf Hotels Group investing $132 million over the next few years to expand the existing hotel portfolio and establish a number of stand-alone restaurants, it has emerged.
The group c
Gulf Hotels Group's chief executive Aqeel Raees has been appointed to the board of the company, it was announced.
"This is in recognition of Aqeel's dedication and continued efforts to develop the business since his a
Gulf Hotels Group (GHG) has signed an agreement with Almoayyed Contracting for the construction of a new BD3 million ($8 million) spa complex which will be located at the hotel.
The agreement was signed by GHG chief executive Aqee
Gulf Hotels Group (GHG) has reported a net profit of BD7.65 million ($20 million) for the first nine months of the year, up 40.1 per cent compared to BD5.46 million for the same period last year.
Commenting on the performance, cha
Lona Real Estate has announced a strategic alliance that will see Gulf Hotels Group operate an apartment hotel complex as part of the Amwaj Waves residential development in Amwaj Islands.
The first phase of the Amwaj Waves development is l
Gulf Hotels Group managed to achieve good profit levels last year despite the political crisis that triggered in February having a major impact on the hospitality industry and the economy in general.
Despite some improvement in the second
Bahrain-based Gulf Hotels Group's net profit surged 25.41 per cent to BD1.852 million ($4.911million) in the third quarter of this year.
The figure was an increase of BD375,197 ($997,862) from the net profit of BD1.477 millio
Gulf Hotels Group (GHG), owner and operator of Gulf Hotel Bahrain, posted a net profit of BD3.6 million ($9.6 million) for the first half of the year against BD6.5 million in the same period of 2010, marking a fall of 44.8 per cent
Gulf Hotels Group (GHG) earned a net profit of BD1.844 million ($4.89 million) in the first three months of the year compared with BD3.355 million for the same period last year, a drop of 45 per cent.
Chairman Farouk Almoayyed said the eff
Postponement of this year's Formula One race has already cost the Gulf Hotels Group in Bahrain around half a million dinars.
And the continuing political unrest in the kingdom has seen the hotel suffer a massive fall in business, accor