Dan Hotels reports revenues of NIS 321 million, an increase of 32%

Dan Hotels, which manages and operates a chain of hotels throughout the country, reports revenues of NIS 321 million, an increase of 32% compared to the same period last year, when revenues amounted to NIS 242 million. Of the total income, income from hotel activity amounted to NIS 260 million, an increase of NIS 179 million or 45% compared to the corresponding period.
Operating profit before depreciation and financing expenses amounted to NIS 68.3 million, an increase of 45% also compared to NIS 47 million in the corresponding quarter last year. Profit for the period amounted to NIS 25.5 million, compared with NIS 6.9 million a year earlier. Financing expenses amounted to NIS 4.9 million in the quarter, compared with financing expenses of NIS 3 million in the corresponding quarter.
Most of the items in the report were significantly affected by the corona plague that hit the entire tourism sector in the corresponding quarter - and less so in the reporting quarter. Financing expenses increased in the quarter as a result of interest expenses.