Mubasher: Banader Hotels reported an increase of 1625% in losses of the first quarter as compared to the same period in 2015, the company said in a bourse statement.
Banader’s Q1 losses reached BHD 1.13 million ($3 million) as compared to BHD 65,502 ($173,710) in Q1-15.
Net losses included the extraordinary non-recurring items related to pre-opening activities of Downtown Rotana Hotel, which amounted to BHD 702,196 ($1.86 million) in Q1-16 as compared to BHD 29,833 ($79,126) in Q1-15.
