By Mohammed Al-Arabi

Riyadh-Mubasher: Saudi Arabia’s hotel sector recorded SAR 1.21 billion earnings during the first nine months of 2015, growing 5% compared with SAR 1.16 billion in the corresponding period a year earlier.

The sector got a boost from Al-Tayyar which earned SAR 946 million in the nine-month period.

The sector’s third-quarter earnings increased by 12% year-on-year from SAR 325 million to SAR 365 million.

Operating profits amounted to SAR 370 million, up 8.6% over SAR 337 million a year ago.

Al-Tayyar posted a 8.6% rise in Q3-15 net earnings to SAR 265 million, compared with SAR 244 million in Q3-14.

Meanwhile, Dur Hospitality reported net earnings of SAR 40.7 million for the same quarter, rising 11% compared with SAR 36.6 million a year earlier.

Tourism Enterprises’ (Shams) Q3 net income grew by 1% year-on-year from SAR 2.16 million to SAR 2.19 million.

Alhokair Group also achieved a 34% leap in Q3 earnings to SAR 57.2 million, compared with SAR 42.6 million in Q3-14.

Translated by Abdul Maguid Aboshahla