Abu Dhabi – Mubasher: Abu Dhabi National Hotels (ADNH) is working on maximising its portfolio by acquiring more hotels across the UAE after closing the takeover of five hotels from Emaar Hospitality Group worth $600 million in November 2018, the firm’s CEO revealed.

ADNH's portfolio currently comprises 12 UAE properties.

“We’re not really [looking to expand further in Dubai]. For us, as Abu Dhabi National Hotels, we will absolutely [acquire more hotels] as long as the opportunity is there and makes sense financially,” CEO Khalid Anib told Arabian Business.

ADNH has completed adding the Emaar hotels, including Address Dubai Mall, Address Boulevard, Address Dubai Marina, Vida Downtown and Manzil Downtown, to its portfolio. 

“We have lands in Abu Dhabi and we are planning to develop these lands. We’re also looking at other emirates, but the most important element for us is financial viability,” Anib said on the sidelines of the Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS).

Moreover, the Abu Dhabi-based company will enter into a long-term management agreement with Emaar Hospitality, the hospitality and leisure subsidiary of global developer Emaar Properties, to continue operating the assets under the Address and Vida brands.

ADNH, which is listed on the Abu Dhabi Securities Exchange (ADX), last reported a 3% year-on-year profit decline during the full-year 2018, registering AED 241 million against AED 248 million.