Abu Dhabi National Hotels Secures 1.6bn Dirham Loan For Hotel Purchase
Published on Jan 21 2019 9:30 AM in Hotel tagged: Trending Posts / Abu Dhabi National Hotels / ADNH / Emaar Hospitality
First Abu Dhabi Bank has revealed that it has agreed to provide a 1.6 billion dirham ($436 million) loan to Abu Dhabi National Hotels (ADNH) for the acquisition of a number of Dubai-based hotels.
Emaar Hospitality Agreement
While the bank's statement did not specify which hotels ADNH will use to loan to acquire, ADNH announced on November 29, 2018, that it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality for 2.2 billion dirhams.
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