The Clap
Misr Hotels records huge increase in earnings to go from red to green.
The Deets
In the 2021/2022 financial year, Misr Hotels (MHOT) started making profit, earning EGP 344.7 million compared to a loss of EGP 115.6 million the year before.
Revenues jumped up by 734.6% increasing from EGP 63 million in 2020/2021 to EGP 525.8 million in 2021/2022.
Misr Hotels reported that the jump in revenues and income was due to an unprecedented amount of revenue from the Nile Ritz Carlton, with their occupancy rates reaching pre-pandemic levels.
Misr Hotels see huge increase in revenues 🤑
