Al-Tayyar Travel posts SR2.1bn in revenue for 2017

Updated 12 February 2018

Al-Tayyar Travel posts SR2.1bn in revenue for 2017

Al-Tayyar Travel Group, a leading regional travel and tourism management company, has announced a 2017 year-end net revenue of SR2.11 billion ($562 million), in line with SR2.14 billion in 2016. This was aided by a tripling of revenue from the hospitality division and a 48 percent jump in car rental revenue which helped offset weaker revenue from some government contracts.
Al-Tayyar’s gross profit was SR1.6 billion in 2017, down four percent as compared to 2016. Operating profit was SR680 million, 25 percent lower than 2016. Net profit attributable to the parent company was SR497 million, down 39 percent from the prior year. Net profit, excluding one-off impairments, would be SR593 million, down 34 percent, instead of 39 percent, from 2016.
“We have made solid progress in implementing our strategic business transformation which has led to a more diversified revenue base, whereby high-potential growth businesses are compensating for maturing legacy businesses. A case in point is that despite the significant revenue decline from our government business, we achieved very strong growth in online travel, which experienced a gross booking value of SR1.4 billion, up 180 percent from 2016,” said Abdullah Aldawood, chief executive officer of the company.
“Furthermore, our hospitality division tripled its revenue and income from international operations shot up 38 percent year-on-year, owing to our UK operations. We are tapping new growth opportunities by sector and geography, which is balancing our portfolio nicely and reducing risk in the process. Gross and operating profit fell mainly because of thinner margins and the consolidation of Portman Group.”
The company embarked on a strategic transformation program in 2016 to diversify its revenue mix by focusing its expansion into other business areas that have a more sustainable growth trajectory.
In 2017, the two online travel brands, Almosafer and Tajawal, witnessed a 243 percent and 145 percent year-on-year growth in gross booking value, respectively. This is a strong indication of the high demand and strong growth of the online travel platform.
Aldawood said: “I am very pleased with the exceptional growth our online travel platform has amassed in a very short time. This is a testament of our ability to execute on very complex operations. We will continue to focus heavily on this business unit with the aim of reaching gross booking value of SR3.75 billion by 2020.”

Alef Education launches first project in US

From right, Geoffrey Alphonso, CEO of Alef Education; Geoffrey Canada, president of the Harlem Children’s Zone and chairman of NexGen Education; and Hanut Singh, CEO of NexGen Education and CEO of QBS Learning.
Updated 17 October 2018

Alef Education launches first project in US

Alef Education, a UAE-based education technology company, has announced the launch of its Alef education system in the US.

The system will be used at Harlem Children’s Zone (HCZ) schools in New York city, starting Oct. 15.

The Alef education system brings together a blend of the latest technology and pedagogical approaches geared toward learners of today. A key component of the system is the “Alef Platform,” which has three main pillars: 

•A fun and easy-to-use digital learning environment 

•High-quality digital content developed to engage and stimulate learning with a blend of videos, interactivities and games. 

•Real time data provided within each lesson to truly enable educators to support personalized learning and identify student strengths and weaknesses. 

The partnership between Alef Education and the Harlem Children’s Zone schools started in 2017 when leaders of those organizations met. The meeting included a review of best practices in pedagogy, instructional design, the use of technology, and the best ways to identify difficult concepts and detect struggling students early using data. 

Alef Education identified NexGen, an education technology startup based in New York City, as its US-based partner to carry forward the implementation of the program at the Harlem Children’s Zone schools and other school systems across the US. 

Geoffrey Alphonso, chief executive of Alef Education, said: “As a leading education technology company, we want to play a significant role in the creation of the next generation of innovative individuals around the world, and continue to provide the latest innovations in artificial intelligence-based and technology-driven education solutions within a holistic education system.” 

He added: “The implementation of our innovative education system in the Harlem Children’s Zone schools in New York city speaks of a quantum leap in our long-term mission to leverage technology to provide students with the personalized education they need to succeed, while also empowering teachers with real-time, actionable data.” 

Geoffrey Canada, president of the Harlem Children’s Zone schools in New York and chairman of NexGen Education, named one of the world’s most influential people by Time magazine and as one of the 50 greatest leaders by Fortune magazine, said: “We are pleased to welcome Alef Education’s innovative education system into our schools in New York as of October 2018. Education systems across the world are witnessing unprecedented transformations and a transition to a more dynamic education based on new technologies. In this context, we have decided to adopt this program to further enrich the resources available to our students to ensure they have access to the best the digital education industry has to offer.”