IFA Hotels and Resorts (IFAHR`R)

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News

9 April 2020 11:48 AM IFA Hotels’ losses up 17% in 2019

Mubasher: The net losses of IFA Hotels and Resorts surged by 17% over the fiscal year (FY) ended on 31 December 2019 to reach KWD 22.52 million as compared to KWD 19.25 million in 2018. The negative 2019 results are ascribed to a rise in value …

Financial Results

15 November 2019 06:23 PM IFA Hotels registers KWD 4.5m profit in Q3-19

Mubasher: IFA Hotels and Resorts has reported a 32.3% year-on-year loss decline during the third quarter of 2019. The company’s loss went down to KWD 4.49 million in Q3-19, compared to KWD 6.64 million in the year-ago period, according to a bourse …

Financial Results

30 September 2019 09:54 AM IFA Hotels incurs KWD 494,075 losses from selling investment

Mubasher: IFA Hotels and Resorts has completed a deal on selling an investment owned by it in Yotel UK Holding Company. The deal is valued at KWD 949,173, IFA Hotels disclosed to Boursa Kuwait on Monday. The said selling will result in losses …

Company News

27 September 2019 05:09 PM IFA Hotels sells KWD 1.57m subsidiary

Mubasher: IFA Hotels and Resorts has sold a subsidiary in consideration of KWD 1.577 million ($5.139 million), according to a bourse statement. The deal is expected to generate KWD 782.770 profit the financial impact of which will appear in the …

Companies Investments

14 August 2019 03:30 PM IFA Hotels turns to profit in Q2-19

Mubasher: IFA Hotels and Resorts turned to profit during the second quarter of 2019, recording KWD 748,880 ($2.47 million) in profit, according to a bourse statement released on Wednesday. In the first six months of 2019, IFA’s loss grew by 19% to …

Financial Results

16 May 2019 09:53 AM IFA Hotels losses deepen to KWD 4.6m in Q1

 Mubasher: IFA Hotels and Resorts incurred an increase of 556.9% in losses during the first quarter of 2019 compared to the same period last year. Losses widened to KWD 4.66 million ($15.36 million) in Q1-19 from about KWD 709,400 ($2.34 million) …

Financial Results

31 March 2019 11:05 AM IFA Hotels incurs KWD 19m losses in FY18

Mubasher: IFA Hotels and Resorts has registered an increase of 85.8% in losses during the fourth quarter of 2018 compared to the same period a year ago. Losses deepened to KWD 9.31 million ($30.7 million) in Q4-18 from KWD 5.01 million ($16.5 …

Financial Results

17 February 2019 00:05 PM IFA Hotels’s subsidiary receives KWD 49.5m loan

Mubasher: IFA Hotels and Resorts announced that one of its subsidiaries was pledged a loan worth KWD 49.53 million ($163.1 million), according to a bourse statement on Sunday. The subsidiary will use the granted loan in repaying part of its …

Banking and Finance

18 November 2018 07:20 AM IFA Hotels incurs KWD 6.6m loss in Q3

Mubasher: IFA Hotels and Resorts (IFA) on Sunday announced it has turned to losses during the third quarter of 2018, as compared with Q3-17. Net losses amounted to KWD 6.64 million ($21.8 million) in Q3-18, against net profit of KWD 2.32 million …

Financial Results

30 September 2018 01:58 PM IFA Hotels’ UAE subsidiary gets AED 140m loan

Mubasher: IFA Hotels and Resorts announced that its subsidiary in the UAE has been allocated a loan valued at AED 140 million ($38.1 million). The subsidiary, which has not been named, will use this credit facility to repay part of the company’s …

Banking and Finance

14 August 2018 01:08 PM IFA Hotels Q2 losses fall 28%

Mubasher: IFA Hotels and Resorts (IFA) on Tuesday posted a 28% year-on-year drop in its losses for the second quarter of 2018. Net losses amounted to KWD 2.58 million ($8.15 million) in Q2-18, compared to KWD 3.57 million ($11.78 million) in …

Financial Results

2 July 2018 00:05 PM IFA’s subsidiary seals $12m deal

Mubasher: International Financial Advisors (IFA) announced that IFA Hotels and Resorts – Dubai has completed a purchasing transaction of a property valued at KWD 3.62 million ($12 million). This transaction has no impact on the income statements …

Companies Investments

16 May 2018 00:46 PM IFA Hotels Q1 financials turn to losses

Mubasher: IFA Hotels and Resorts suffered losses worth about KWD 709,400 ($2.36 million) during the first quarter of 2018 against a profit of nearly KWD 726,710 ($2.41 million) in the same period in the prior fiscal year. The negative turn in Q1 …

Financial Results

16 April 2018 01:35 PM IFA’s board nods to becoming holding firm

Mubasher: The board of International Financial Advisors (IFA) approved transforming to a holding company. The board members of IFA, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), will pass this decision to the …

General Assembly

29 March 2018 08:20 AM IFA Hotels reports KWD 5m loss in Q4-17

Mubasher: IFA Hotels and Resorts on Thursday announced that it swung to a loss during the fourth quarter of 2017. Losses amounted to KWD 5.01 million ($16.76 million) in Q4-17, compared to a profit worth KWD 3.42 million ($11.44 million) in Q4-16, …

Financial Results

4 March 2018 09:14 AM IFA Hotels’ subsidiary inks JV deal with Amdec

Mubasher: IFA Hotels and Resorts – South Africa, a fully owned subsidiary of Kuwait’s IFA Hotels and Resorts, has signed a joint venture (JV) agreement with Amdec, the owner of the trademark Eevergreen Lifestyle. The JV deal covers the retirement …

Companies Investments

28 December 2017 01:41 PM IFA Hotels to incur KWD 3.53m losses on investments sale

Mubasher: IFA Hotels and Resorts announced a loss of KWD 3.53 million ($11.7 million) from selling investments in Yotel Investment Company Limited and Kingdom 5-KR-59 Limited, according to a disclosure of Thursday. The company has sold an …

Financial Results

15 November 2017 01:41 PM IFA Hotels profits leap to KWD 2.3m in Q3

Mubasher: IFA Hotels and Resorts recorded a surge of 2,457.8% in profits during the third quarter of 2017, when compared to the corresponding period in 2016. Earnings increased to KWD 2.3 million ($7.6 million) in Q3-17 from about KWD 90,900 …

Financial Results

2 October 2017 10:15 AM IFA Hotels position seen unaffected by Yotel acquisition

Mubasher: IFA Hotels and Resorts clarified that Starwood Capital Group has purchased a 30% stake in Yotel, in which IFA Hotels is considered one of the major shareholders. Following this acquisition, Starwood Capital has become a partner with …

Mergers and Acquisitions

6 September 2017 02:53 PM IFA posts profit after subsidiary $9.61m sale deal

Mubasher: International Financial Advisors (IFA) has achieved a profit after its subsidiary, IFA Hotels and Resorts, sold a stake in Yotel Investment Limited Company. IFA, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), …

Companies Investments

30 August 2017 00:57 PM IFA Hotels sale deal generates KWD 5.04m profit

Mubasher: IFA Hotels and Resorts has sold assets as a stake in an associate outside Kuwait for KWD 9.4 million. This deal will generate a profit of KWD 5.04 million, which will be registered in the income statements of the third quarter of fiscal …

Companies Investments

14 August 2017 08:04 PM IFA Hotels turns to losses in Q2

Kuwait - Mubasher: IFA Hotels and Resorts posted losses of KWD 3.57 million ($11.85 million) in the second quarter of the year, versus profits of nearly KWD 2.48 million ($8.23 million) for the same quarter of 2016. The financial statements of the …

Financial Results

19 July 2017 09:21 AM IFA HR to renovate Dubai’s Palm Jumeirah in 2017

Kuwait – Mubasher: IFA Hotels and Resorts is expected to develop its new project in Dubai’s Palm Jumeirah in 2017. The chairman Talal Jassim Al Bahar said that the company’s main strategy is represented in risk reduction through the …

Companies Investments

30 March 2017 00:39 PM IFA Hotels Q4 profits plunge 66.5%

Mubasher: IFA Hotels and Resorts reported a decline of 66.5% in profits during the fourth quarter of 2016 as compared to the corresponding period of 2015. The company’s earnings shrank to KWD 3.42 million ($11.2 million) in Q4-16 from KWD 10.2 …

Financial Results

29 March 2017 05:50 AM IFA Hotels affiliate opens YotelAir Hotel in Paris ariport

Kuwait - Mubasher: Yotel Investments, an affiliate of IFA Hotels and Resorts Company, opened its newest hotel in Charles de Gaulle Airport in Paris, IFA Hotels said. The launch coincided with the rebranding of Yotel hotels at airports to YotelAir, …

Companies Investments