Abu Dhabi – Mubasher: Abu Dhabi National Hotels (ADNH) said in a bourse filing that its CEO, Ignace Arsene Bauwens, has resigned from his post effective 9 March.

The company’s shareholders recently approved a 5% cash dividend at a total value of AED 50 million for 2014.

ADNH managing director Hareb Al-Muhairy said he expects the company to achieve higher profits in 2015.

“I expect to see stronger revenue growth in 2015 in our main hotels as well as continued investments in renewing our ownership and developing the size of our operations through a new restructuring,” Al-Muhairy told Mubasher in a phone interview.

ADNH holds seven hotels in the UAE, which are run by specialised companies, in addition to three other ADNH-run hotels.

Established in 1975, ADNH’s capital amounts to AED 1 billion divided on 1 billion shares at par value of AED 1 per share.