Abu Dhabi National Hotels plans Gulf-wide growth
The Abu Dhabi National Hotels Company plans to expand across the UAE and the GCC, the company's chief said.
"We plan to add two new properties one in Abu Dhabi and one in Dubai, in 2005 and 2006, respectively. We are interested in managing hotels across the UAE and the Gulf," said Khalifa Nasser Al Mansoori, chairman of Abu Dhabi National Hotels Company (ADNH).
"There are opportunities in some GCC cities. When the right opportunity comes, we will [definitely weigh our options]," Al Mansoori told reporters at the International Tourism Bourse (ITB) in Berlin last week.
ADNH will manage a boutique hotel in Abu Dhabi's Khalidiya area starting this year. Another property located in Jumeirah, in Dubai, will be ready in late 2006 or early 2007, company representatives said.
The new Abu Dhabi hotel will have 129 rooms, and the Dubai property will have 450 rooms.
Refurbishment and renovation of some hotels in Abu Dhabi will continue, Al Mansoori said.
"A major renovation of the Le Meridien in Abu Dhabi will begin soon, with projected costs of Dh50 million. The renovation of the Hilton Abu Dhabi is nearing completion. The renovation of the Sheraton was completed last year."
Currently, ADNH has 15 properties in its portfolio, including five-star, four-star and three-star hotels.
The company anticipates continued growth in 2005 and the coming years. "Business has been good and occupancies are rising. Now with the Abu Dhabi Tourism Authority promoting Abu Dhabi as a tourist and conference destination, it will add momentum to our efforts and foster further growth," the official said.
"We are a very liquid company with strong financials. If the return on investments is attractive, we will invest in more properties."
ADNH has been participating in the Berlin fair for more than a decade, given the fact it is a premier travel and tourism event in the world.
"The German market is important for us as a large portion of tourists that come to Abu Dhabi and the UAE are from Germany," Al Mansoori added.
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