12 November 2012

Namibia: Country Club Reports Another Good Year

THE Windhoek Country Club and Resort and Casino (WCCR) managed to boost its revenue for the past financial year by more than 9% compared to the previous one despite the ongoing global economic downturn.

Total revenue for the year was N$106,7 million, up from N$97,6 million last year, WCCR chairman Sven Thieme said on Friday.

Operational expenses rose by 9,2% – from N$39,1 million to N$42,7 million – while operating income rose by 10,3%, from N$51,6 million to N$56,9 million.

Earnings before income tax, depreciation and amortisation (Ebitda) show an increase of 16,6%, up from N$19,9 million to N$23,2 million.

Thieme said the results weren't just noteworthy in the light on the global financial crisis, but also because the WCCR “faced stiff competition from new developments”.

“Despite this, the Windhoek Country Club Resort and Casino did not lose business. On the contrary – demand remains high for rooms as well as conference and event venues and the hotel is looking at expansion options to cater for the ever increasing business opportunities,” Thieme said. He said the highlights of the past year included the conclusion of a variety of upgrades which the hotel and casino had been undergoing for a number of years.

The WCCR was also named Namibia's Leading Hotel in 2012 by the World Travel Awards for the third year in a row.

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