UAE – Farouk Yousuf Almoayyed, a prominent Bahraini businessman and the chairman of Gulf Hotels Group, passed away on Monday, November 25, 2024.
The announcement has left the business and hospitality community in Bahrain mourning the loss of a visionary leader.
Born on May 26, 1944, in Bahrain, Almoayyed pursued his studies in mechanical engineering at Loughborough College in the UK, graduating in 1966.
He became a part of Gulf Hotels Group’s board in 1974 and assumed the role of chairman in 2002. Under his leadership, the group grew into one of Bahrain’s most recognized hospitality brands.
The Gulf Hotel, the company’s flagship property and Bahrain’s first five-star establishment, was founded in 1967 and has continued to thrive under Almoayyed’s guidance.
His influence helped the hotel stay relevant by meeting modern hospitality demands through continuous expansions and upgrades.
Reflecting on Almoayyed’s contributions, the Gulf Hotels Group said in a statement, “Farouk bin Yousef Almoayyed dedicated his life to advancing the hospitality sector in Bahrain. His leadership was defined by integrity, innovation, and unwavering commitment. He will be deeply missed.”
In addition to his work with Gulf Hotels Group, Almoayyed chaired and held directorships in several prestigious organizations, including Y.K. Almoayyed & Sons, National Bank of Bahrain, and Bahrain Duty Free.
He also played a pivotal role in expanding the family business, Almoayyed International Group, into a global enterprise with operations across the Gulf Cooperation Council (GCC) countries.
Throughout his career, Almoayyed was recognized for his forward-thinking approach and his ability to form strategic partnerships that drove growth.
His leadership was instrumental in transforming modest ventures into significant contributors to Bahrain’s economy.
Financial milestones amid loss
The news of Almoayyed’s passing coincides with Gulf Hotels Group’s recent announcement of strong financial results.
For the nine months ending September 30, 2024, the group reported a 20.5% increase in net profit, reaching BD 5.873 million (US$15.58 million) compared to BD 4.874 million (US$12.93 million) for the same period last year.
Ahmed Janahi, the group’s Chief Executive Officer, expressed pride in the company’s accomplishments, saying, “The improved occupancy rates and rise in room revenues have been central to our success this year.”
Farouk Almoayyed leaves behind a legacy of dedication, resilience, and progress. He is survived by his wife, four children, and countless colleagues and admirers who respected his leadership.
The Gulf Hotels Group offered its condolences to Almoayyed’s family, stating, “May God bless the deceased with His mercy and grant him peace. His contributions to Bahrain’s economy and community will not be forgotten.”
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