OMRAN lists record profit

Oman Tourism Development Company (OMRAN Group) announced a record-breaking financial and operational performance in 2023, achieving a net profit of OMR 31.6 million.

TT Bureau

The record growth announced by the Oman Tourism Development Company (OMRAN Group) underscores the continued support from the Group’s Board of Directors and Executive Management, as well as the strategic partnership with the stakeholders and partners in the tourism sector. The OMRAN Group’s achievement comes amid the steady and comprehensive economic growth the country is experiencing, resulting in positive outcomes in the sector. The Group witnessed an 8 per cent growth in the occupancy rate of its resorts and hotels compared to 2022. This rise was reflected in the number of guests, with a total of 774,881 guests, representing an 11.5 per cent increase compared to 2022.

These achievements were highlighted during the recent Board of Directors meeting. The board reaffirmed the Group’s commitment to strengthening its role in driving economic diversification and significantly increasing its impact as a leading catalyst for development and investment in the tourism sector.

This record performance translates the success of the efforts made and the efficiency of the implemented plans. The high revenue rates from resorts, hotels, existing projects, and new tourism experiences and products contributed significantly, alongside continued efforts to improve spending efficiency and operational performance in its subsidiaries and assets. The total book value of the Group’s assets amounted to 671 million Omani Riyals, and equity exceeded half a billion Omani Riyals, reaching 539 million Omani Riyals, a substantial increase from 379 million Omani Riyals in 2020.