UAE - According to Emirates news agency WAM, Abu Dhabi National Hotels (ADNH) has agreed a deal with four lenders to provide an AED1.5bn loan facility, the first syndicated borrowing of ADNH.
The money is to finance the company’s ongoing projects “to support the growth of Abu Dhabi’s economy and tourism infrastructure,” says the chairman of ADNH, Saif Al Hajeri.
Included in these ongoing projects is ADNH’s recent announcement that it is sponsoring the exhibition Gourmet Abu Dhabi 2010, organised by the Abu Dhabi Tourism Authority.
CEO of ADNH, Richard Wayne Riley, says that this exhibition has a “great effect of promoting and developing tourism in Abu Dhabi”.
