Sector losses lead to closure of seven Amman hotels

(File photo: Jordan News)
AMMAN — Seven four-star hotels in Amman have closed down due to their failure to bring in profits, according to a member of the Jordanian Businessmen Association, Michael Nazzal, Addustour daily reported.اضافة اعلان

Speaking during a discussion on Thursday regarding the Draft General Budget Law for 2023, Nazzal said that “losses have moved from the four-star hotel sector to the five-star sector because of the drop in market prices and lack of revenues”.

The hotels that closed down provided about 800 jobs and 2,000 indirect jobs, the businessman said.

Investor supportA lack of support for current investors from the Kingdom’s budgets and economic plans has had a negative impact on investment in Jordan, he said.

“Participation with the private sector is non-existent, and no consultations take place before drafting laws,” he said, noting that the policies currently in place have “destroyed investments for many years”.

Nazzal suggested that the public sector begin by providing incentives and support for existing investors to enable them to increase their profits, thereby attracting further investments.

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