The National Investor (TNI) has ploughed US $50 million into the overhaul and expansion of a hotel in the Mafraq area of Abu Dhabi, which it has rebranded and decided to manage in-house.
The Mafraq Hotel was purchased by TNI in 2007 and since then, the company has expanded the property from 121 to 250 rooms and created five new food and beverage outlets, which will also be managed independently.
TNI vice president of real estate Rob Rowell said: “Being TNI’s first major foray into the hospitality sector we were tempted to lean on established brands to manage the operations. However, after careful consideration and the establishment of our own track record in operations, we decided to continue to leverage the Mafraq name to highlight the uniqueness of the property and strengthen its own independent brand.
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“There is no doubt that this exceptional asset has benefited from the close relationship between TNI as owners and the bolstered management team at the hotel,” continued Rowell.
“Additionally, third party specialists from the hospitality industry have allowed us to utilise a wealth of local and international knowledge, the results of which speak for themselves,” he said.
Rowell asserted that the four-star hotel, which is scheduled to open in November, will serve an “important and real niche” in Abu Dhabi.
It will target the local and international corporate market, the GCC guest base and the MICE segment.
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