RAK Hospitality Holding has enjoyed a strong start to the year with a 17% Q1 revenue growth.
The figures were released as Ras Al Khaimah welcomed hoteliers and industry heavyweights for the Arabian Hotel Investment Conference this week.
Yiannis Anagnostakis, CEO 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 first quarter growth of 17% follows on from the strong finish to 2017, which saw RAK enjoy an overall growth of 7%, due to a number of successful investments from subsidiaries including:
- RAK National Hotels (RAKNH) which successfully completed its two year capital investment plan that resulted to 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 and the completion of extensive refurbishment at the flagship Hilton Ras Al Khaimah Resort & Spa in Q1 2018 while maintaining robust occupancy rates across its portfolio.
- Hospitality Advisory Partners established in 2015 and formerly known as RAK Hospitality Asset Management, extended its advisory services to meet the increasingly complex demands of investors and owners in Ras Al Khaimah as well as the neighbouring emirates across the UAE.
- RAK Hospitality Logistics continued to expand its operations, specialising in the provision of premier guest excursions and transportation through Safarak, as well as hospitality employee accommodation and transportation services becoming an invaluable partner to hotels and resorts in RAK.
- Hakaya Collection’s commercial activities focused on dining, entertainment and leisure. Hakaya, for the first time, expanded its operations into Dubai with the opening of its first Kona Grill at Al Seef Dubai. Hakaya Collection continues to diversify and expand its business activities to include B2B catering in partnership with RAK Abela.