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Al Habtoor Group’s revenues hike 19% in H1-22

Al Habtoor Group’s revenues hike 19% in H1-22
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UAE – Mubasher: Al Habtoor Group, a UAE-based business conglomerate, has posted a 19% year-on-year (YoY) growth in revenue during the first half (H1) of 2022.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) enlarged by 36% YoY in the January-June 2022 period, according to the income statements.

Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, said: “Habtoor Hospitality’s year-to-date forecast for H1-22 registered an 82% increase in revenues over the same period in 2021, and 190% in EBITDA, triggered by an overall increase in bookings in town and an ADR-focused policy.”

Meanwhile, the group’s car leasing division Diamondlease witnessed a 52% YoY leap in revenue during the first six months (6M) of 2022. With a fleet exceeding 12,700 vehicles, the division reported over 91% utilisation.

Al Habtoor noted: “We have doubled our fleet size over the past two years in Diamondlease, and have reshaped our revenue structure, focusing more on the used-car sales and enhancing the client’s experience.”

He concluded: “I trust this success will continue for H2 and propagate to 2023. We are on the right track; I am optimistic about our future.”