Mubasher: Kuwait Hotels suffered losses of KWD 393,000 ($1.29 million) during the fourth quarter of 2016 against a profit of KWD 358,000 ($1.17 million) in the same period of the prior year.

During the fiscal year, earnings decreased 61.1% to total KWD 104,000 from nearly KWD 267,340 in FY15, according to a bourse filing issued on Monday.

The board members recommended a cash dividend of 5% or 5 fils per share for FY16.