ZaraAnnual-English2016

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COMPANY’S COMPETITIVE POSITION LARGEST OWNER OF 5–STAR HOTELS 28% ZARA MARKET SHARE OF THE 5-STAR HOTEL REVENUES IN JORDAN 5. COMPANY’S COMPETITIVE POSITION Zara Investment (Holding) Company is the largest owner of luxury 5–star hotels in Jordan with strategic locations in Amman, Dead Sea, Petra, and Aqaba. Zara owns seven 5-star hotels with a combined total of 2,131 rooms. Zara enjoys the leading position of being one of the top investment companies in Jordan in the hospitality sector, capturing 28% market share of the 5-star hotel revenue in Jordan. Zara market leadership is also manifested in relation to it’s paid-up and registered capital, and net book value of property and equipment which stand at JD 150 million / share and JD 170,8 million respectively as of 31/12/2016. on both the local and international levels. During 2016, all properties of Zara maintained their leadership position in the market. Hotel Intercontinental Jordan achieved the highest revenue and operating profit in Amman. Mövenpick Resort Petra achieved the highest revenue and operating profit in Petra despite the steep decline in number of visitors. All of the hotels of the Company are managed by renowned international management companies, namely the Intercontinental Hotels Group (IHG), Hyatt International, and the Mövenpick Hotels and Resorts (MHR). The affiliation with such reputable operators enables the properties of Zara to compete 22
6. RELIANCE ON SPECIFIC LOCAL OR FOREIGN SUPPLIERS OR MAJOR CUSTOMERS The Company does not rely on specific local or foreign suppliers or major customers for more than 10% of its total procurements and/or sales. 7. GOVERNMENT PROTECTION OR PRIVILEGES ENJOYED BY THE COMPANY There are no government protection measures, nor privileges enjoyed by the Company or any of its products / subsidiaries in accordance with legal regulations. 8. GOVERNMENT OR INTERNATIONAL ORGANIZATIONS MEASURES WITH MATERIAL IMPACT ON THE COMPANY’S ACTIVITIES, PRODUCTS, OR COMPETITIVENESS All of the hotels and resorts owned by Zara have benefited from the exemptions stipulated in the Investment Promotion and Special Economic Zone Laws. These exemptions cover duties and taxes on procurement of furniture, fixtures and equipment (FF&E) required for refurbishment and renovation purposes. 9.A ORGANIZATION STRUCTURE Board of Directors Audit Committee Executive Committee General Manager Subsidiaries CFO Corporate Communications Engineering Administration Human Resource Information Systems Asset Management Finance Annual Report 2016 23
Page 1 and 2: Zara Investment (Holding) Company P
Page 3 and 4: CONTENTS 4 7 10 14 Names of members
Page 5 and 6: Yassin Khalil “Mohammad Yassin”
Page 7 and 8: MESSAGE TO OUR SHAREHOLDERS Welcome
Page 9 and 10: On behalf of the board of directors
Page 11 and 12: NUMBER OF ROOMS IN FIVE-STAR HOTELS
Page 13 and 14: Annual Report 2016 13
Page 15 and 16: 2.B SUBSIDIARIES SUBSIDIARY PAID UP
Page 17 and 18: DOB DEGREE GRAD. DATE PROFESSION ME
Page 19 and 20: NAME POSITION Professional Experien
Page 24 and 25: 9.B NUMBER OF COMPANY EMPLOYEES AND
Page 26: #Sustainable_Tourism_Jo shaumari.ad
Page 29 and 30: JORDAN HOTELS AND TOURISM COMPANY,
Page 31 and 32: AMMAN TOURISM INVESTMENT COMPANY, O
Page 33 and 34: RED SEA HOTELS COMPANY, OWNER OF M
Page 35 and 36: 12. FINANCIAL IMPACT OF NON-RECURRI
Page 37 and 38: Mövenpick Resort & Spa Dead Sea An
Page 39 and 40: Annual Report 2016 39
Page 41 and 42: 16. AUDIT FEES PAID BY THE COMPANY
Page 43 and 44: NUMBER OF SHARES AS OF NUMBER OF SH
Page 45 and 46: 18.A REMUNERATIONS OF THE CHAIRMAN
Page 47 and 48: COMPANY’S CONTRIBUTION TOWARDS EN
Page 49 and 50: 22. CORPORATE GOVERNANCE The Compan
Page 51 and 52: OUR SOURCE OF BUSINESS %8 %35 %57 O
Page 53 and 54: General Assembly Annual Meeting 201
Page 55 and 56: INDEPENDENT AUDITOR’S REPORT To t
Page 57 and 58: · Identify and assess the risks of
Page 59 and 60: Notes 2016 2015 EQUITY AND LIABILIT
Page 61 and 62: ZARA INVESTMENT (HOLDING) COMPANY P
Page 63 and 64: holders of the parent Cumulative ch
Page 65 and 66: Investing activities Notes 2016 201
Page 67 and 68: liabilities of the subsidiary •De
Page 69 and 70: Fair value Fair value is the price
Page 71 and 72:
The carrying values of deferred inc
Page 73 and 74:
Machinery and equipment Furniture a
Page 75 and 76:
Movements on projects in progress a
Page 77 and 78:
8 Cumulative Change in Fair Value M
Page 79 and 80:
As at 31 December, the aging of uni
Page 81 and 82:
15 Long-Term Loans This item consis
Page 83 and 84:
annual interest rate of 1.6% plus L
Page 85 and 86:
19 Segment Information The primary
Page 87 and 88:
2015 - Hotels Segment Other Segment
Page 89 and 90:
22 Non-controlling Interests This i
Page 91 and 92:
24 Basic and Diluted Earnings (Loss
Page 93 and 94:
Balances of related parties include
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Oasis Hotels Co. LLC Zara Agricultu
Page 97 and 98:
Oasis Hotels Co. LLC Zara Agricultu
Page 99 and 100:
Credit risk Credit risk is the risk
Page 101 and 102:
IFRS 15 Revenue from Contracts with
Page 103:
Board Declarations 1. The Board of
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ZaraAnnual-English2016

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