Moving slowly
Alhokair Tourism recorded Q4 2016 consolidated sales in decline by 6% to SAR258.96m vs. SAR275.59m in the same quarter last year. The group posted a net profit amounting to SAR20.21m, down by 36.6% compared to Q4 2015 due to a decline in demand from corporate sector and individuals on hotels. The net profit fall was also due to a drop in the current Omrah season and the increase in finance charges on the back of the major increase in SIBOR.Abdulmohsen Al Hokair Group for Tourism and Development Co CJSC (Al Hokair Group) is a Saudi Arabia-based company engaged in the leisure, entertainment and tourism industry. The Company operates in three business segments: the Hotel segment provides hotel and tourism services, health and tourist resorts, furnished apartments, restaurants and coffee shops; the Entertainment segment includes the establishment, operation and maintenance of games cities, entertainment centers and parks, and the Others segment includes the operations of head office and commercial center, among others. The Company owns more than 48 entertainment centers and amusement parks, and more than 33 hotels across Saudi Arabia and the Gulf States. In addition, Al Hokair Group is active in assisting in the development of investment in the field of tourism in the areas of entertainment and hospitality. The Company's wholly owned subsidiary is Sparky's Land Amusement Toys.
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