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GFH, H Hotels ink deal for 5-Star Harbour Row Hotel operation

GFH, H Hotels ink deal for 5-Star Harbour Row Hotel operation
GFH has completed around 60% of the work at the new hotel
GFH
GFH
-2.68% 1.09 -0.03

Mubasher: GFH Financial Group, listed on the Bahrain Bourse, Boursa Kuwait, and the Dubai Financial Market (DFM), on Wednesday announced it has signed an agreement with H Hotels & Resorts Management.

Under the agreement, H Hotels will operate an under-development new five-star hotel and residences at the landmark Harbour Row waterfront project in Manama, GFH added in a statement to the Bahrain Bourse.

GFH, the Islamic wholesale investment bankhas completed around 60% of the work at the new hotel, according to the statement.

It is worth noting that GFH previously reported a $20.7 million in consolidated net profit for the first quarter of 2019, down 43.9% from $36.89 million in Q1-18.