The consolidated financial results of Orascom Hotels and Development (OHD) for the first quarter (Q1) of 2017 have shown that the company’s revenues were able to record a significant boost by 73.9% in the operational performance across all its business segments. The company’s revenues have increased from EGP 284m in Q1 2016 to EGP 493.8m in Q1 2017, increasing by more than the double, according to the company’s report. The company’s net profit has reached EGP 31.8m, against a net loss of EGP 96.7m in Q1 2016. In Q1 2017, the number of tourists has increased by 51% to reach 1,738,000 compared to 1,150,715 tourists in Q1 2016, according to the report. El Gouna was the largest contributor to the OHD total sales in Q1 2017.

Source: Daily News Egypt May 16, 2017 15:11 UTC