ZaraAnnual-English2016

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COMPANY’S ACHIEVEMENTS IN 2016 ZARA INVESTMENT (HOLDING) COMPANY • y Achieving a net profit of JD 2.7 million, compared to a loss JD (1.6) million despite Revenues decline of JD 1.4 million due to improve the performance efficiency. • y Application of performance monitoring standards and immediate modification of implementation plans. • y Lifting up the appearance of rooms and suites for all Zara Hotels. • y Merging Levant Hotels and Tourism Company (owner of Movenpick Resort Petra) into Nabateans Hotels Company (owner of Movenpick Nabatean Castle Hotel) as of 1/1/2016 in order to enhance classification of touristic rooms. • y Establishment of Asset Management Department to follow up and improve the operational performance. • y Active involvement in the local community development by engaging in activities promoting livelihood and environmental awareness like SOS visits, hosting World Associates students, participating in the beach and dive clean-ups through Clean-Up the World Campaign, donating to charities and less fortunate through the “A Kilo of Kindness Campaign” and hosting internship programs for students from Les Roches academy. Lifting up the appearance of rooms and suites for all Zara Hotels. • y Settling dues on loans timely which reduced the outstanding balance to JD 17 Million. 28
JORDAN HOTELS AND TOURISM COMPANY, OWNER OF HOTEL INTERCONTINENTAL JORDAN (HIJ) • y Renewed ISO 22000 Food Safety Management System certificate from the World Accreditation Agency. • y Started F&B Loyalty program “Gourmet Dining” with more than one thousand members. • y Improved the Hotel website ranking during 2016 and increased the reviews on Booking.com. • y Hosted the annual IMEA Commercial workshop. • y Enrolled 6890 new members to IHG Rewards Club members. • y RGI has been grown with an unchanged competitive set by 4.8 points comparing to the same period of the last year. • y Achieved the Trust Program Certificate in food safety management from Jordan Food and Drug Administration (JFDA). • y Opened a new Learning & Development Center. • y Distributed Ramadan parcels, charitable activities and donations. • y Won the best hotel “Silver Award” of JHA annual awards 2016. • y Won TripAdvisor Certificate Excellence and Travelers Choice Awards from TripAdvisor. • y Won "Best General Manager" Award for World Luxury Hotel awards 2016. • y Public Relation Dep. has won the "Long Service" award for IMEA. • y Culinary team has won 7 medals during HORICA Jordan 2016. • y Achieved the Excellence Award in Safety and Occupational Health by the Social Security. • y Created our own Lab (Hygiene ATP Monitoring System) that prepared for every eventuality through accurate and sensitive molecular food testing workflows which reduce the external labs costs. Annual Report 2016 29
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 22 and 23: COMPANY’S COMPETITIVE POSITION LA
Page 24 and 25: 9.B NUMBER OF COMPANY EMPLOYEES AND
Page 26: #Sustainable_Tourism_Jo shaumari.ad
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
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As at 31 December, the aging of uni
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15 Long-Term Loans This item consis
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annual interest rate of 1.6% plus L
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19 Segment Information The primary
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2015 - Hotels Segment Other Segment
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22 Non-controlling Interests This i
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24 Basic and Diluted Earnings (Loss
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Balances of related parties include
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Oasis Hotels Co. LLC Zara Agricultu
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Oasis Hotels Co. LLC Zara Agricultu
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Credit risk Credit risk is the risk
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IFRS 15 Revenue from Contracts with
Page 103:
Board Declarations 1. The Board of
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