The Emaar Hospitality Group said the fire would not have any "adverse impact" on its balance sheet but also added that they did not expect it would reopen by the end of this year. Including a Dh301 million write-down, Emaar Properties posted its fourth-quarter earnings in February due to the blaze. Chris Newman, the corporate director for Emaar Hospitality Group (operations) said "The first quarter has been positive year-on-year and the overall [revenue per available room] is still forecasted to be strong," The hospitality division had contributed 12 percent of Emaar's revenues in 2015, at Dh1.64 billion.