Kuwait Hotels nine-month profit falls as Abdulaziz Al-Failakawi resigns as chairman

Net profit attributable to shareholders of Kuwait Hotels Company fell 40.01% in the first nine months of 2026 to KD 564.99 thousand, from KD 941.85 thousand in the same period of 2025, according to a statement published on Boursa Kuwait on Monday, 9 November 2026, as reported by Mubasher.

Nine-month operating revenue fell 7.56% to KD 4.07 million, from KD 4.40 million a year earlier.

In the third quarter of 2026, net profit attributable to shareholders was about KD 218.28 thousand, against KD 221.76 thousand in the same quarter of 2025, down 1.57% year on year. Quarterly operating revenue fell 2.25% to KD 1.40 million, from KD 1.44 million.

The company attributed the decline to lower revenue, higher operating and general expenses, and the impact of geopolitical events on the hospitality sector.

In the first half of 2026 the company had earned KD 346.72 thousand, against KD 720.08 thousand in the same period of the previous year, a 51.85% annual decline.

Separately, the board accepted the resignation submitted on Sunday, 8 November 2026, by Chairman Abdulaziz Jassim Al-Failakawi from his board seat, which he held as the representative of Al-Masar Leasing and Investment Company. The company said it will complete the necessary legal and regulatory procedures regarding the resignation, and that it has no impact on its financial position.