Hospitality
United Foods Company reports strong FY2024 performance
United Foods Company announced financial results for the full year ended 31 December 2024.
Against a backdrop of geopolitical volatility and rising costs, United Foods achieved significant growth in revenue and profitability and reinforced its strong financial and market position, delivering on its long-term strategy for development. Total gross revenue rose to a record AED 601.7 million, supported by a 5.9% increase in sales volumes.
Profitability strengthened as gross profit increased 8% to AED 99.6 million, supported by improved cost controls, procurement optimisation, and product mix enhancements. Net profit before tax increased 11% to AED 33.9 million. Net profit after tax remained stable at AED 30.8 million.
The Board of Directors proposed a cash dividend of 100% of the paid-up capital for 2024, equivalent to AED 1 per share or AED 30.25 million in total. This proposed dividend payout, subject to shareholder approval at the upcoming Annual General Meeting, reflects the Group’s strong financial position and its continued focus on delivering value to its shareholders. United Foods Company is one of only three companies in the UAE to propose 100% cash dividend.
Fethi Khiari, Chief Executive Officer at United Foods Company, commented, “In all, 2024 was a milestone year of achievement for United Foods. We increased sales volumes and revenue, protected margins, continued to deliver dynamic, high-quality products and diversified our product portfolio to better delight our customers. These key initiatives have enabled us to reinforce our robust position in the UAE and in all the markets we serve.
I am pleased to announce that under the recommendation of the Board, there will be 100% cash dividend of the paid-up capital for 2024 in line with our sustainable and progressive dividend policy, at our Annual General Meeting. We would like to thank our shareholders for their continued support and trust in us.
Looking ahead, we remain dedicated to our strategic path that will enhance value for our shareholders, as we continue to scale our operations and invest in automation and efficiency. Our commitment to Emiratization remains core to our corporate vision, and we are proud to be building a business that is both future-fit and locally rooted.”
Operational and strategic highlights:
- The Group invested AED 12.8 million in capital expenditure, primarily directed towards the installation of two new product lines: fractionation unit and PET blowing machine to produce bio-degradable bottles.
Operational performance and outlook
Throughout 2024, United Foods maintained a sharp focus on cost efficiency and working capital management. Total assets rose to AED 439.4 million, while equity increased to AED 344.5 million. The Group continued investing in manufacturing upgrades and digital tools to drive long-term competitiveness.
Strategic efforts to support national priorities of food security also gained traction, with new initiatives to advance Emiratization across departments. These efforts position the Group to contribute meaningfully to national development while attracting and retaining skilled local talent. United Foods remains focused on expanding regional distribution, enhancing product innovation, and deepening its ESG practices, ensuring long-term sustainable value creation for all stakeholders.
Hospitality
GCC Travellers Are Heading Away Earlier for Eid Al Adha, Dragonpass Data Reveals
Dragonpass, the world’s leading provider of digital airport ecosystem platforms, has revealed new travel data showing a notable shift in how travellers across the GCC are planning their Eid journeys, with demand surging before Eid Al Adha rather than during the holiday itself.
According to Dragonpass data, travel activity across the GCC increased by 69% in the week leading up to Eid Al Adha 2026. However, rather than peaking during the holiday period, travel activity declined by 24% during Eid week and a further 18% in the week immediately after, suggesting many travellers chose to depart ahead of the holiday period.
The trend marks a clear contrast to Eid Al Fitr earlier this year, when travel activity across the GCC rose by 6% during the holiday week itself before declining by 20% in the following week. Saudi Arabia recorded the strongest Eid Al Fitr uplift in the region, with travel activity increasing by 25% during the holiday week.
Several GCC markets recorded particularly strong growth in the lead-up to Eid Al Adha. Kuwait saw the largest increase, with travel activity rising by 124.7% week-on-week, followed by Bahrain (+108.5%), the UAE (+79.2%), Qatar (+59.5%) and Saudi Arabia (+58.4%).
Andrew Harrison-Chinn, Chief Marketing Officer at Dragonpass, said: “The contrast between Eid Al Fitr and Eid Al Adha is one of the most interesting travel trends we have observed this year. While Eid Al Fitr generated a more traditional holiday-week travel spike, Eid Al Adha saw travellers moving significantly earlier, with demand building before the holiday rather than during it.
“This highlights the dynamic nature of travel behaviour across the GCC and reinforces the importance of understanding how demand shifts around key travel periods. Despite periods of disruption affecting regional travel earlier this year, demand across the GCC has remained resilient, with travellers continuing to prioritise leisure and holiday travel.”
Saudi Arabia remained one of the region’s strongest-performing travel markets throughout both holiday periods. During Eid Al Fitr, the Kingdom recorded the clearest holiday-driven uplift in the GCC, with growth spread across several major airports. Madinah recorded the strongest increase at 58%, followed by Jeddah (29%), Dammam (25%) and Riyadh (22%).
During Eid Al Adha, Madinah again stood out as a key exception to the wider regional trend, recording a 20% increase during Eid week and a further 58% increase post-Eid, reflecting continued religious travel activity around the holiday period.
Looking ahead, Dragonpass expects strong travel demand across the GCC throughout the summer months. The latest Eid travel trends suggest travellers are becoming more deliberate in how they plan journeys around peak holiday periods, while demand for regional and international travel remains resilient. As summer travel gathers pace, these shifting patterns are expected to continue shaping passenger flows across the region.
As aviation connectivity continues to expand across the GCC, understanding how travellers adapt their behaviour around major holidays and peak travel periods will become increasingly important for airports, airlines and the wider travel ecosystem.
Hospitality
GAME ON: HOW GLOBAL SPORTS EVENTS RESHAPE CITIES, INVESTMENT & TOURISM
Saudi Arabia’s emergence as a global sporting destination is reshaping far more than its events calendar. As the Kingdom prepares to host a growing portfolio of international tournaments, from Formula 1 and international football to golf, boxing and e-sports, sport is increasingly recognised as a powerful driver of tourism demand, investment attraction and long-term destination positioning.
As David Thomson, Senior Vice President – Development, The First Group Hospitality, puts it: “Mega-events can put a city on the map. When managed well, they reposition a city in the minds of investors and travellers.”
Four leading hospitality executives share their perspectives ahead of the Future Hospitality Summit – FHS Saudi Arabia, taking place from 22-24 June at Mandarin Oriental Al Faisaliah, Riyadh.
Reputation before revenue
The leaders agreed that the reputational dividend far outweighs the short-term financial return. For Muin Serhan, CEO, Amsa Hospitality: “The greatest impact of global events lies in reputation. While revenue is temporary, reputation compounds over time. When executed well, a global event signals capability, safety, and cultural openness, factors closely watched by investors when they enter a market.”
Victor Abou Ghanem, CEO, Story Hospitality, frames the opportunity in similarly expansive terms: “For destinations, a mega-event is the most expensive advertising campaign you will ever run, and the only one the entire world covers for free. If you treat the event as a short-term P&L exercise, you probably won’t justify the cost. If you see it as a 10–20-year brand-building moment, the logic changes completely.”
Wael Al Sharif, Area General Manager, The Torch Hospitality, underlines the scale of the opportunity for Saudi Arabia specifically: “Brand-building dramatically outweighs immediate revenue. For Saudi Arabia preparing for Riyadh Expo 2030 and FIFA 2034, these platforms accelerate Vision 2030’s tourism diversification objectives by decades, creating irreversible perception shifts.”
Planning for the long game
The leaders agreed that engagement must begin well before the cameras turn on. As Wael Al Sharif puts it: “Engagement must begin at the master planning phase. Early collaboration with urban developers and event organisers ensures hospitality infrastructure aligns with legacy goals, avoiding siloed development and maximising post-event utility.”
Victor Abou Ghanem is direct about the consequences of arriving late: “By the time logos are unveiled and tickets go on sale, many of the big decisions – venue locations, infrastructure routes, and zoning – are already locked in. For hotel and real-estate players, the ideal is to be at the table when masterplans are drawn, and transport lines are being discussed.”
Building smart, staying relevant
On supply and long-term value, the leaders were united: build for the normal year, not the peak. David Thomson frames it simply: “Capacity decisions need to be based on long-term commercial viability, not short-term demand peaks. Good design, flexible use of space, and selecting the right locations are essential for built assets to remain relevant well after the event concludes.” Muin Serhan reinforces the point: “Operators should prioritise conversion-ready assets, mixed-use developments, and properties adaptable to evolving demand patterns after the event.” Victor Abou Ghanem shares his rule of thumb: “Owners should treat the event as a bonus, not the baseline.”
The commercial prize, the leaders agreed, lies beyond the RevPAR spike. “Short-term rate premiums are welcome, but they are not the main prize,” says Muin Serhan. “If the experience converts first-time visitors into repeat guests, the commercial impact continues long after the event.” Wael Al Sharif points to Saudi Arabia’s own mega-projects as evidence of where the broader value lands: “In KSA, projects like Qiddiya and Diriyah demonstrate [the mixed-use value] perfectly.”
Legacy over hype
The answer, the leaders agreed, comes down to one word: legacy. For Victor Abou Ghanem, “cities that win in the long run design the event as one chapter in a larger urban story. They invest in transport that locals actually use, venues that can be downsized or repurposed, and tourism strategies that run for decades.” David Thomson applies a commercial lens: “Cities that think beyond the event itself align supply with realistic post-event demand and phase development responsibly. When expansion merely aims to satisfy short-term hype, oversupply and margin pressure usually follow.” Muin Serhan adds that the human dimension matters as much as the physical: “Consistency is what ultimately turns first-time visitors into loyal guests.”
Turning two weeks into two decades
The executives were asked to distil the opportunity into a single sentence.
Muin Serhan: “Align infrastructure, hospitality supply, and place-making with a long-term economic strategy so that the global attention generated over two weeks becomes the foundation for two decades of tourism growth.”
Victor Abou Ghanem: “You turn a two-week event into a 20-year opportunity by treating it not as a party, but as a starting point for re-imagining how people live, move, stay and invest in your city long after the final whistle.”
David Thomson: “Turning a two-week event into a 20-year opportunity requires developing hotels, retail, entertainment, and other assets that will continue attracting visitors long after the final game.”
Wael Al Sharif: “By treating mega-events as transformation accelerators rather than standalone spectacles — embedding infrastructure into permanent mixed-use ecosystems, leveraging global attention for perception repositioning, and designing for adaptable post-event utility — destinations convert temporary gatherings into enduring competitive advantages that compound across decades.”
Hospitality
MÖVENPICK HOTEL APARTMENTS DOWNTOWN DUBAI UNVEILS EXCLUSIVE DAYCATION EXPERIENCE
Mövenpick Hotel Apartments Downtown Dubai invites residents and visitors to escape the summer heat in style with its exclusive Daycation package, offering a full day of luxury and relaxation starting from just AED 430 per person.
Whether guests are looking to unwind, enjoy quality time with family, or simply treat themselves to a well-deserved break, the Daycation Offer delivers a complete wellness and dining experience in the heart of Dubai.
Guests will enjoy a thoughtfully curated experience that includes:
•Revitalising Spa Treatment – Drift away with a rejuvenating spa session, tailored to restore mind and body
•Breakfast & Lunch – Savour a delectable spread across two meals, crafted by the hotel’s culinary team
•Pool Access – Spend the day lounging by the pool in a serene, resort-style setting in the heart of Downtown Dubai
Families can also take advantage of a special benefit for younger guests. Children below 12 years of age receive a 50% discount on the package price, making it an ideal choice for a family day out.
-
News11 years ago
SENDQUICK (TALARIAX) INTRODUCES SQOOPE – THE BREAKTHROUGH IN MOBILE MESSAGING
-
Trending8 months agoOPPO A6 Pro 5G Review: Reliable Daily Driver
-
Tech News2 years agoDenodo Bolsters Executive Team by Hiring Christophe Culine as its Chief Revenue Officer
-
VAR1 year agoMicrosoft Launches New Surface Copilot+ PCs for Business
-
Automotive2 years agoAGMC Launches the RIDDARA RD6 High Performance Fully Electric 4×4 Pickup
-
Tech Interviews2 years ago
Navigating the Cybersecurity Landscape in Hybrid Work Environments
-
Tech News11 months agoNothing Launches flagship Nothing Phone (3) and Headphone (1) in theme with the Iconic Museum of the Future in Dubai
-
VAR2 years agoSamsung Galaxy Z Fold6 vs Google Pixel 9 Pro Fold: Clash Of The Folding Phenoms


