ZaraAnnual-English2008

Dear Shareholders,
Welcome to your Company’s 15th annual meeting for the
ordinary general assembly of the shareholders.
In 2008, your Company had a great year – a record-breaking
performance:
•• Operating consolidated revenue rose to JD 77.8 million, up
by 34% over 2007
Operating consolidated revenue (JD million)
2008
2007
•• Profit from operations rose to JD 27 million, up by 48% over
2007 and Net profit rose to JD 9.8 million, up by 111% over
2007
Profit from operations (JD million)
2008
2007
18
27
•• Revenue per available room (RevPAR) reached JD 65, up by
30% over 2007
•• Consolidated assets rose to JD 255.6 million up by 15%
compared with 2007
Consolidated Assets (JD million)
2008
2007
Net profit (JD million)
2008
2007
•• Cash rose to JD 15.4 million up by 215% compared with 2007
4.7
58.3
221
9.8
77.8
255.6
Mövenpick Resort & Residence Aqaba
This year’s outstanding performance is the product of your
Company’s powerful and varied portfolio of premium five-star
properties spread all over the Kingdom of Jordan. The strategy
of Zara to invest in geographically diverse areas while catering
to a wide range of tourists, from leisure to business, has paid
off well.
The strength and quality of the product that your Company
offers is further enhanced by Jordan’s strategic central location
in the Middle East, its stability and security, in addition to its
wonderful climate. Jordan has indeed reaffirmed its place
on the global tourism map as a safe, unique and first class
destination.
The growth witnessed in the tourism sector’s key indicators
reaffirms the high confidence in which tourists and travelers
regard Jordan. Tourism receipts for 2008 are estimated at JD
2,097 million compared with JD 1,639 million for 2007, an
increase of 28%; Tourism contribution to GDP amounted to
15.4% in 2008 compared to 15% in 2007.
Jordan Tourism Receipts (JD million)
2008
2007
1,639
2,097
Group tourism reached 468,326 tourists for 2008 compared
with 326,773 tourists for 2007, an increase of 43%.
Employment in this sector reached 39,624 employees in 2008
compared with 34,455 employees in 2007 an increase of 15%;
of this employment figure, I am proud to point out that almost
6% of this workforce is employed by your Company.
10 Message to our Shareholders
Annual Report 2008 11