CHI Ltd, the hotel management arm of International Hotel Investments plc, announced that it signed a 10-year agreement with the United Arab Emirates’ leading investment house, Mainland Investment LLC, for the extension and operation of the Mafraq Hotel in Abu Dhabi. Abu Dhabi is the capital and second most populous city in the United Arab Emirates after Dubai. Abu Dhabi is one of the world’s largest producers of oil, but is actively diversifying its economy through investments in financial services and tourism.
The existing Mafraq hotel, with 120 rooms and suites, is located in the heart of a fast developing area in Mafraq, Abu Dhabi. It is expected to be re-launched in 2010 as the 250-room Ramada Abu Dhabi Mafraq hotel. Work on renovating the existing rooms and construction of a further 130 rooms will commence in 2008 and is expected to finish by early 2010.
CHI’s Chief Executive Officer Mr. Tony Potter stated: “This new property fits perfectly in our current and long term expansion plans for this region. 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. In the last year alone, the joint venture 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.”