Cairo – Mubasher: Financial indicators for Misr Hotels showed a 53.02% year-on-year (YoY) increase in the company's net profits during the first quarter (Q1) of the fiscal year (FY) 2026-2027.
The company explained in a disclosure to the Egyptian Exchange (EGX) today that it recorded a net profit of EGP 490.6 million during the period from July to the end of September 2026, compared to profits of EGP 320.58 million in the corresponding period of FY 2025-2026.
The company's revenues decreased during the three months to reach EGP 514.4 million, compared to EGP 519.56 million in the corresponding period.
The company attributed the slight decline in revenues to a decrease of approximately USD 1.7 million in gaming casino revenues at The Nile Ritz-Carlton Hotel during the current quarter, as casino operations were impacted by geopolitical conditions, relying heavily on Gulf nationalities.
It noted that despite this, The Nile Ritz-Carlton achieved an increase in returns of approximately EGP 72 million, reflecting a growth rate of 31%, bringing the hotel's total revenues to EGP 479 million with an average occupancy rate of 81%. Meanwhile, Safir Dahab Hotel achieved net returns for the owner amounting to EGP 39 million, a 8% decrease compared to the corresponding period.
