Development

Abu Dhabi National Hotels Says to Double Assets in 3 Yrs

Abu Dhabi National Hotels (ADNH) ADNH.AD is aiming at doubling its assets in the next three years, its chief executive said on Monday.

Reuters "Our agenda is to double assets of the company in three to five years and we see that happening in three years," Richard Riley told reporters on the sidelines of a hotel investment conference. This would include not only the hotels side of business, but also its catering, transport and tours units, he said.

The 35-year old company started expanding its operations two years ago as part of Abu Dhabi's 2030 plan, which includes transforming the emirate into a tourism hub.

ADNH will deliver 1,500 rooms to the Abu Dhabi market in the next two years, Riley said.

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Source - Reuters



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