DXB Entertainments on Tuesday announced it has recorded an AED 142 million in revenues for the first quarter of 2019, down 18% year-on-year from AED 173 million.
The company has reported an average hotel occupancy of 72% at Lapita Hotel in Q1-19, versus 62% in the year-ago period, the Dubai-based company said in a statement.
Additionally, DXB has suffered marginal losses in earnings before interest, taxes, depreciation, and amortisation (EBITDA) of AED 21 million in Q1-19, while adjusted EBITDA loss improved by 10% to AED 19 million.
Total visits stood at around 760,000 visits in the three-month ended 31 March 2019, compared to 851,000 visits in Q1-18, the leisure and entertainment operator highlighted.
On 8 March, the Ladies’ Free Day Out has attracted over 53,000 visits to the parks, while Dubai Parks and Resorts hosted more than 4,000 Special Olympic heroes at MOTIONGATE Dubai, the company added.
In 2018, DXB Entertainments posted a net loss of AED 1.01 billion, versus AED 1.116 billion in 2017.
The company’s revenues fell by 2% year-on-year to AED 541 million in 2018, from AED 552 million.