NCTH to manage 8 new hotels

The National Corporation for Tourism and Hotels (NCTH) in Abu Dhabi is planning to add eight hotels to its portfolio in the next two years following strong performance over the past few years, the company said on Thursday.

NCTH currently manages 12 hotels inside and outside the UAE with a total 3,000 rooms, mostly in Abu Dhabi, it said.

“The Asset Management Division is planning to manage 20 hotels by 2015,” NCT&H said, adding that the division has played a vital role in supporting the Corporation since it was created three years ago.

“The Asset Management Division is one of the five most important divisions at NCTH along with the Industrial Catering, Liquor Division and Hospitality Division.”

According to NCTH, the Asset Management Division enjoys a high reputation inside and outside the UAE, thanks to what it described as veteran investment team members, “who have a long relevant experience and speak various languages.”

It said the asset division now plays a vital role in maximizing NCTH’s profits, which surged by around 13.4 per cent to Dhs 34.6 million in the first quarter of 2013 from Dhs 30.5 million in the first quarter of 2012.

Total revenue jumped by 26 per cent to Dh174.5 million from around Dh137.8 million in the same period, it added.

NCTH was founded in Abu Dhabi in 1996 with the aim of promoting the emirate as a major tourism destination.

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