Ghion Hotels Enterprise
Overview
Ghion Hotels Enterprise is a four-star historical hotel in central Addis Ababa, held by Ethiopian Investment Holdings. It was established in 1951 by four shareholders and subsequently nationalised; it is now wholly owned by the government under Council of Ministers Regulation No. 107/1993. Its 190 rooms sit on a site of more than 123,000 square metres, and it renders room, restaurant and bar, meeting and events, and spa and health club services alongside cafeteria, concert hosting, swimming, laundry and photography. Its statement of financial position is dominated by a right-to-use land asset of ETB 997.44M and a revaluation reserve above ETB 1.2B, so its returns on equity and assets are small relative to that asset base.
Revenue grew 16% to ETB 256.46M in the year to 30 June 2025 and other income rose to ETB 17.32M, but general and administrative expenses climbed to ETB 146.83M, so profit after tax edged up only 3% to ETB 47.62M at a net margin of 17%. Total assets were broadly unchanged at ETB 1.51B, of which ETB 997.44M is a right-to-use land asset carried against a revaluation reserve, which keeps the return on equity at 3.5%.
SourceETB 273.79M
ETB 47.62M
ETB 1.51B
SourceETB 226.17M
Performance
Income statement
| Fiscal year | 2013EC | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|---|
| Total Revenue | ETB 75.89M | ETB 106.39M | ETB 158.26M | ETB 225.8M | ETB 273.79M |
| Total Expenses | ETB 66.44M | ETB 92.35M | ETB 138.18M | ETB 179.6M | ETB 226.17M |
| Net Profit | ETB 9.45M | ETB 14.05M | ETB 20.08M | ETB 46.2M | ETB 47.62M |
| Operating Revenue | ETB 70.01M | ETB 98.02M | ETB 156.16M | ETB 221.26M | ETB 256.46M |
| Other Income | ETB 5.88M | ETB 8.37M | ETB 2.1M | ETB 4.54M | ETB 17.32M |
| Cost Of Sales | ETB 6.22M | ETB 13.99M | ETB 28.71M | ETB 35.71M | ETB 49.87M |
| Gross Profit | ETB 63.79M | ETB 84.04M | ETB 127.45M | ETB 185.55M | ETB 206.59M |
| General Admin Expenses | ETB 53M | ETB 56.9M | ETB 84.12M | ETB 111.39M | ETB 146.83M |
| Impairment Loss Financial Assets | ETB 7.24M | ETB 10.98M | — | — | — |
| Audit Fee | ETB 70K | ETB 64K | ETB 64K | ETB 100K | ETB 103.5K |
| Board Fee | ETB 634.2K | ETB 449K | ETB 406.5K | ETB 1.31M | ETB 671K |
| Operating Profit | ETB 8.73M | ETB 24.02M | — | — | — |
| Finance Costs | ETB 1.6M | ETB 651.7K | — | — | — |
| Profit Before Tax | ETB 7.12M | ETB 23.37M | ETB 30.02M | ETB 65.76M | ETB 72.01M |
| Income Tax Expense | -ETB 2.33M | ETB 9.32M | ETB 9.94M | ETB 19.56M | ETB 24.39M |
| Expected Credit Loss | — | — | ETB 14.94M | ETB 11.54M | ETB 4.3M |
| Reported Total Expenses | — | — | ETB 99.54M | ETB 124.33M | ETB 151.9M |
Balance sheet
| Fiscal year | 2013EC | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|---|
| Total Assets | ETB 1.41B | ETB 1.41B | ETB 1.45B | ETB 1.51B | ETB 1.51B |
| Equity | ETB 1.26B | ETB 1.28B | ETB 1.3B | ETB 1.34B | ETB 1.35B |
| Non Current Assets | ETB 1.37B | ETB 1.38B | ETB 1.39B | ETB 1.39B | ETB 1.4B |
| Current Assets | ETB 41.27M | ETB 29.69M | ETB 66.13M | ETB 120.12M | ETB 108.96M |
| Total Liabilities | ETB 146.63M | ETB 134.4M | ETB 154.73M | ETB 164.77M | ETB 156.93M |
| Right Of Use Land | — | — | — | ETB 997.44M | ETB 997.44M |
| Cash And Cash Equivalents | — | — | — | ETB 46.1M | ETB 66.32M |
| Inventories | — | — | — | — | ETB 9.81M |
| Trade And Other Receivables | — | — | — | — | ETB 32.83M |
Financial health
Return on equity (ROE)
3.5%
Return on assets (ROA)
3.2%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
Peer institutions in the same sector, latest fiscal year.
Berhanena Selam Printing Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 422.01M
Chemical Industry Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 738.37M
Development and Hotel Company S.C.
state-owned-share-company
Net profit · 2017EC
ETB 308.69M
Educational Materials Production and Distribution Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 52.08M
Ethio Post
state-owned-enterprise
Net profit · 2017EC
ETB 71.69M
Ethiopian Agricultural Business Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 1.23B
Ethiopian Airlines
state-owned-enterprise
Net profit · 2017EC
ETB 139.64B
Ethiopian Construction Works Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 773.71M
Ethiopian Electric Power
state-owned-enterprise
Net profit · 2016EC
-ETB 10.15B
Ethiopian Electric Utility
state-owned-enterprise
Net profit · 2017EC
ETB 4.05B
Ethiopian Engineering Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 598.63M
Ethiopian Industrial Inputs Development Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 614.3M
Ethiopian Investment Holdings
state-owned-enterprise
Net profit · 2015EC
ETB 91.17B
Ethiopian Lottery Service
state-owned-enterprise
Net profit · 2015EC
ETB 564.15M
Ethiopian Minerals Corporation
state-owned-enterprise
Net profit · 2016EC
-ETB 51.5M
Ethiopian Petroleum Supply Enterprise
state-owned-enterprise
Net profit · 2015EC
ETB 236.79M
Ethiopian Pulp and Paper S.C.
state-owned-enterprise
Net profit · 2017EC
ETB 6.69M
Ethiopian Railway Corporation
state-owned-enterprise
Net profit · 2013EC
-ETB 42.48B
Ethiopian Shipping and Logistics
state-owned-enterprise
Net profit · 2017EC
ETB 36.22B
Ethiopian Sugar Industry Group
state-owned-enterprise
Net profit · 2016EC
-ETB 5.3B
Ethiopian Toll Roads Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 982.35M
Ethiopian Tourist Trading Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 294.73M
Ethiopian Trading and Business Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 525.3M
Federal Housing Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 1.66B
Genet Hotel
state-owned-enterprise
Net profit · 2017EC
ETB 12.81M
Industrial Parks Development Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 646.67M
National Alcohol and Liquor Factory
state-owned-enterprise
Net profit · 2017EC
ETB 307.5M
National Veterinary Institute
state-owned-enterprise
Net profit · 2016EC
ETB 109.91M
Spa Service Enterprise
state-owned-enterprise
Net profit · 2016EC
ETB 43.31M