Ras al Khaimah Hospitality Holding has reported a 17 per cent increase in revenue for the first quarter of 2018 as it continues to strengthen its position as a leader in the hospitality sector.
Last year ended on a strong note, with an overall growth of 6.5 per cent and significant investments across its subsidiaries.
RAK National Hotels, part of the group, successfully completed its two-year capital investment plan.
The move resulted in the opening of the Hilton Garden Inn Ras Al Khaimah in May 2017, the official inauguration of the Ritz-Carlton Ras Al Khaimah Al Wadi Desert in November 2017 and the completion of extensive refurbishment at the flagship Hilton Ras Al Khaimah Resort & Spa in quarter one of this year.
At the same time, the group was able to maintain robust occupancy rates across its portfolio.
Yiannis Anagnostakis, chief executive of RAK Hospitality Holding, said: “We are thrilled to participate in AHIC and share our success with like-minded industry leaders.
“As we are facing the opportunities and challenges that 2018 brings, we look forward to this year’s forum where industry leaders come together to discuss trends for the hospitality sector and support development in the region.”
The news comes as emirate of Ras Al Khaimah hosts the Arabian Hotel Investment Conference for the first time.
Held under the patronage of the ruler of Ras Al Khaimah, Sheikh Saud Bin Saqr Al Qasimi, and founding patron, Sheikh Ahmed bin Saeed al Maktoum, the event is now in its 14th year.
The event brings the region’s most senior hotel investors, developers, operators and advisors, including Anagnostakis, who will be participating as a speaker alongside other senior executives to discuss trends and opportunities in the hospitality sector.
RAKHH is deeply rooted in the emirate and as a leading sector focused hospitality organisation.
The organisation, an integrated asset owner and manager of leading hospitality investments, aims to complement the emirate’s ambitious growth plans.