Dur Hospitality’s profit up 582% on post-pandemic recovery

RIYADH: Dur Hospitality Co. posted a 582 percent jump in profit for the first quarter of 2022, fueled by a post-pandemic recovery,

The Saudi-listed firm saw its profits reach SR12.8 million ($3 million), up from SR1.9 million in the same period a year earlier, according to a bourse filing.

The increase in profit was due to a pandemic recovery that drove sales up 45 percent to SR146 million in the first quarter compared to SR100 million in the same period last year.

Established in 1976, Dur Hospitality owns and manages hotels, restaurants, recreation centers, travel agencies, and also develops residential, hotel, and commercial properties.

It owns 32 properties, and has a number of residential and hospitality projects currently being developed across the Kingdom.