ZaraAnnual-English2011

Board of Directors’ Report | Company’s achievements in 2011
Annual Report 2011
10.
Risks
The Company does not foresee any risks that may have a
material impact on its operations during this fiscal year.
11.
Company’s achievements in 2011
1.
Jordan Hotels and Tourism Company, owner of Hotel
InterContinental Jordan:
5.
Red Sea Hotels Company, owner of Mövenpick Resort &
Residence Aqaba:
a.
b.
c.
Nominated the best five stars hotel for outstanding
performance.
Environmental partnership with Royal Botanic
Garden.
Awarded the Green Key Certificate.
a.
b.
c.
Awarded the Green Globe certification.
Awarded the Blue Flag certification.
Voted by Apollo Kuoni Scandinavia as best hotel
for customer satisfaction out of Apollo’s 1600
contracted properties.
2.
Amman Tourism Investment Company, owner of Grand
Hyatt Amman Hotel:
6.
National Hotels and Tourism Company, owner of
Mövenpick Resort & Spa Dead Sea:
3.
a.
b.
c.
The start of the comprehensive room and suite
renovation program, slated to be completed by first
quarter 2013.
Switch of the cooling and heating system of the
hotel from 2-pipe to 4-pipe system.
Voted one of the top ten hotels in the Middle East
by Condé Nast Reader’s Choice Awards
Levant Hotels and Tourism Company, owner of Mövenpick
Resort Petra:
a.
b.
Upgrade of the safety and security installations
located at the entrance of the hotel.
Awarded the Green Globe certification.
7.
a.
b.
c.
d.
e.
Awarded the Green Globe certification with a grade
of 95 points, the highest rating awarded by Green
Globe Institution.
Selected as one of the top resorts in the Middle East
by Condé Nast Traveller Reader’s Choice Awards.
Ranked as one of the top hotels on Expedia®
Insiders’ Select list.
Listed as one of the world’s healthiest hotels on
Hotels.com.
Zara Spa at Mövenpick Resort & Spa Dead Sea was
rated best spa retreat in the Middle East by Condé
Nast Traveller.
Zara Investment Holding Company:
Mount Nebo, one of the most revered holy sites of Jordan and the place where Moses was buried. A small Byzantine
church was built there by early Christians, which has been expanded into a vast complex. During his visit to Jordan in
2000, the Late Pope John Paul II held a sermon here that was attended by some 20,000 faithful. 30 minutes away
from Mövenpick Resort & Spa Dead Sea.
12. Financial impact of non-recurring transactions that occurred during the fiscal year and do not
fall within the main activities of the Company:
There is no financial impact of non-recurring transactions that occurred during the fiscal year and do not fall within the main
activities of the Company.
4.
Zara South Coast Development Company, owner of
Mövenpick Resort & Spa Tala Bay Aqaba:
a.
b.
c.
d.
e.
f.
g.
h.
Raised registered capital by JD 6 million to reach
JD 30 million increasing Zara’s share by 5% to reach
80%.
The completion of full laundry facility using the
latest energy saving technology.
Partially switched to solar energy replacing use of
electricity and diesel.
Implemented recycling of pools water used for
irrigation purposes.
Awarded the Green Globe certification.
Awarded the Blue Flag certification.
Voted Best Guest Experience 2011 among all
Mövenpick hotels and resorts worldwide.
Achieved Award of Excellence 2011 by Trip Advisor.
a.
b.
c.
d.
e.
Enhanced the applied systems in order to ensure
accurate and timely delivery of financial and
operational reports.
Strengthened the internal control system by
requesting operators to adapt to latest internal
audit standards and formalize the communication
of internal audit reports.
Developed a risk management system to assist
management in minimizing the occurrence of
such risk and identify the needed preventive and
corrective measures.
Updated the existing financial and administration
system to cope with latest leading practices.
Restructuring the loan portfolio to minimize the
interest charges.
13. Chronological order of realized profits (losses), dividends, equity attributable to shareholders,
and share price for the years 2006 through 2011:
2011 2010 2009 2008 2007
Profits (losses) realized (867,718) 9,008,144 7,024,635 9,844,760 4,669,869
Dividends - - - - -
Equity attributable to shareholders 146,323,274 149,726,285 139,966,939 131,673,954 119,666,590
Share price JD 1.05 1.14 1.40 1.75 2.05
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