TNI signs up Abu Dhabi’s first Ramada
Abu Dhabi, June 30, 2008
Malta-based CHI Hotels and Resorts and Mainland Investment, a wholly owned subsidiary of leading merchant bank The National Investor (TNI), have signed an agreement for the management of the renovated and extended Mafraq Hotel in Abu Dhabi.
The signing marked the start of technical services and a 10-year agreement for the management of the first hotel under the Ramada brand in the emirate. The hotel currently has 121 rooms and will be relaunched as a 250-room Ramada Abu Dhabi Mafraq hotel in early 2010.
TNI chief executive officer Orhan Osmansoy said: “This marks another important milestone for the TNI property portfolio; we are very happy to be involved with CHI Hotels and Resorts, a reputable firm with over 45 years of experience in delivering high-quality service to hotel guests.”
“This new property fits perfectly in our current and long-term expansion plans for this region” said Corinthia Hotels International vice-president - development Paul Pisani.
“Our joint venture with the Wyndham Hotel Group for the operation of the well established Wyndham and Ramada brands in Europe, Middle East and Africa, together with the upscale Corinthia brand, is proving to be the perfect catalyst for our management company to expand its operation in both established and new destinations. Last year alone, the JV has enabled us to increase our portfolio by no less than six prime properties in destinations such as Algiers, Dubai, Egypt, England, Morocco and Romania,” said CHI Hotels and Resorts chief executive officer and managing director Tony Potter. – TradeArabia News Service