Oman Tourism Development Company (OMRAN Group) announced a record-breaking financial and operational performance in 2023, achieving a net profit of RO31.6mn (growing by 199 per cent) and a 44.6 per cent revenue growth reaching RO70.4mn.

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 number of 774,881 guests, representing an 11.5 per cent increase compared to 2022.

Further, this record performance translates the success of the efforts made and the efficiency of the implemented plans, driven by outstanding operational performance across the board. 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 value of the Group’s assets amounted to approximately RO671mn, and equity reached RO539mn, a substantial increase from RO379mn in 2020.

The Group continues to develop and enhance financial and operational performance, improve operating expenses, boost the competitive capabilities of all owned assets, and focus on maximising the sector’s potential and achieving tourism diversification.

This includes investing in sustainable projects to enhance recreational, agricultural, environmental tourism, and adventure tourism, aligning with international tourism development trends and optimally leveraging Oman’s unique elements.

The Group achieved a record 51% in the local added value index, reflecting its efforts to support SMEs and enhance local content. Spending on national products exceeded RO 8.5 million, with about RO 14.5 million spent on local services. Total spending on SMEs in 2023 amounted to approximately RO 15 million.