Gulf Hotels Group eyes robust yield in 2023; plans further expansion

Gulf Hotels Group eyes robust yield in 2023; plans further expansion

Manama: Mahmood Rafique, Editor: Owners and operators of Bahrain’s one of largest Groups remains upbeat on growth of tourism sector and seeks further expansion in 2023.

“We are hoping to see the further growth of tourism and hospitality sectors in line with the steps taken by the Kingdom to boost tourism sector yield this year,” Farouk Yousif Almoayyed, Chairman of Gulf Hotels Group (GHG) on sidelines of the AGM told The24X7News Bahrain (www.twentyfoursevennes.com), adding that the hospitality sector in Bahrain is bouncing back to the pre-pandemic levels.

Earlier, the shareholders of (GHG) during the 53rd annual general meeting, have approved the payment of the cash dividend of BD5.65 million for the year 2022 as well as ratifying the financial statements.

The AGM was held on Monday, at the Gulf Hotel Bahrain and chaired by Farouk Yousif Almoayyed, Chairman and attended by members of the board, the executive management and the meeting held under the supervision of Bahrain Clear representatives.

The representatives from the Ministry of Commerce, the Central Bank of Bahrain, Bahrain Bourse, and auditors KPMG were also present.

GHG achieved a total Gross Operating Revenue of BD 31.395 million compared to BD 23 million in 2021, with an increase of BD