Hilton Addis Ababa has reported a significant increase in revenue and profit margins for the first half of 2023/24.
In a performance briefing with the Ethiopian Investment Holding (EIH) last week, Hilton Addis Ababa revealed its revenue for July through December reached 400 million birr, up 19 percent over the same period last year.
EIH owns a majority stake in Hilton Addis Ababa, granting the government control over the iconic hotel's strategic direction and financial decisions. The disclosure of results to EIH marks the first time such details have been publicly shared.
In addition to higher revenue, Hilton Addis Ababa said profit margins expanded at an accelerated rate during H1 2023/24, though it did not provide earnings figures.
