(MENAFN) Gulf Hotels Group (GHG) registered a 7.24 percent net profit increase hitting USD29.91 million in 2014.b
Net profit in the the fourth quarter was USD4.77 million compared to USD6.27 million in 2013, a decrease by 24.04 percent.
The group's total gross operating revenue was USD87.87 million compared to USD84.25 million in 2013, marking an increase of 4.29 percent for the year.
Total gross operating revenue reached USD23.16 million for the fourth quarter in 2014 compared to USD23.34 million in 2013, marking 0.84 percent decrease.
The company has commenced the development of the 230-room, five-star Gulf Hotel Business Bay in Dubai, a waterfront property located 1.5km from Burj Khalifa and Dubai Mall, GHG chairman said.
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