Omran earns RO25.2mn profit; RO156mn FDI in 2024
Muscat – Oman Tourism Development Company (Omran Group) has reported net profit of RO25.2mn and revenues exceeding RO58.3mn for 2024, driven by increased operational efficiency and investment activity. The figures reflect the group's growing impact on Oman's tourism sector and its broader contribution to economic diversification.
The performance update was shared during a recent Board of Directors meeting, where members reaffirmed their commitment to strengthening Omran's role as a leading force in tourism investment and development.
Omran secured over RO156mn in foreign direct investment (FDI) last year, underscoring its ability to attract strategic global partnerships. The inflow of capital supports national efforts to increase the contribution of non-oil sectors to the GDP, a press release stated.
A total of 820,365 guests stayed across Omran's hotel portfolio in 2024 – a 6% increase from the previous year. The average occupancy rate reached 45%, up by 2.6 percentage points year-on-year. A key milestone was the official opening of JW Marriott Muscat, adding to the sultanate's luxury hotel offerings.
The group announced several new projects to strengthen Oman's position in high-end tourism. These include the Middle East's first Club Med Resort in Musandam and a partnership with Santani Wellness Resorts to develop wellness tourism in Dakhliyah.
Omran also reported a 40% In-Country Value Index in 2024, with RO19mn directed towards small and medium enterprises. SME spending accounted for 34.7% of total procurement.
Additionally, the group created 370 new jobs for Omani nationals.
As part of its corporate governance goals, Omran introduced an Environmental, Social and Governance Framework to align with international sustainability standards and improve transparency across its operations.
'Omran's results underline its role as a key driver of tourism and investment in Oman. Through strategic partnerships, large-scale projects and a focus on sustainability, the group continues to position itself at the centre of the sultanate's economic diversification strategy,' the press release added.
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