OMRAN
Group Reports Strong Financials with RO 25 Million Net Profit in 2024

Muscat,
28 May (ONA) — Oman Tourism Development Company (OMRAN Group) announced
robust financial and operational results for 2024, reaffirming its central role
in advancing tourism development and sustainable economic growth in the
Sultanate of Oman. The Group achieved a net profit of RO 25.2 million with
revenues surpassing RO 58.3 million, reflecting its operational efficiency and
institutional excellence.

During
its recent meeting, OMRAN Group’s Board of Directors reviewed these
accomplishments and discussed ongoing financial and operational developments.
The Board emphasized the Group’s continued commitment to supporting economic
diversification efforts and enhancing quality tourism investments across Oman.

The
financial results demonstrate OMRAN Group’s success in attracting strategic
investments, including foreign direct investment exceeding RO 156 million in
2024. This achievement aligns with Oman Vision 2040’s objectives to increase
foreign investment inflows and expand various economic sectors’ contributions
to GDP.

In
the hospitality sector, OMRAN Group strengthened its operational performance by
welcoming 820,365 guests across its hotel properties in 2024, representing 6%
growth compared to the previous year. The Group achieved an average occupancy
rate of 45%, marking a 2.6% year-on-year increase. The year also saw the
official opening of JW Marriott Hotel Muscat, which has become a distinguished
addition to Oman’s luxury hospitality landscape.

As
part of its strategy to position Oman as a premier global tourism destination
and attract world-class hospitality brands, OMRAN Group announced several
landmark projects. These include a partnership to develop the Middle East’s
first Club Med resort and a strategic collaboration with Santani Wellness
Resorts to enhance medical tourism in Al Dakhiliyah Governorate.

Demonstrating
its commitment to sustainability and local value creation, OMRAN Group achieved
a 40% local value-added index. The Group allocated over RO 19 million to
support small and medium enterprises, which accounted for 34.7% of total
expenditure. OMRAN Group’s nationalization efforts resulted in 370 new job
opportunities for Omani talent, with Omanization rates reaching 94% in the
parent company and 53% across subsidiaries.

The
Group further strengthened its corporate governance practices by launching its
Environmental, Social, and Governance (ESG) Framework in 2024. This initiative
institutionalizes sustainability principles and enhances transparency while
adhering to global best practices across all operations and projects.

These
positive results underscore OMRAN Group’s continued leadership as the primary
driver of tourism sector development in Oman, achieved through close collaboration
with relevant authorities including the Ministry of Heritage and Tourism.

—Ends/AG