A top official reported that Abu Dhabi National Hotels (ADNH) is ready to increase its equity four times to Dh22.5 billion within 5 years. CEO Richard Riley said the company recently made management changes and is now in the process of restructuring in order to grow its hotel portfolio and other business.
During their recent annual general meeting, ADNH approved the restructuring, appointed a third party to evaluate their books, and approved distribution of Dh200 million cash dividend to share holders. Riley explained that the companies mandate is to strategically grow their business and so they will double their equity in two years to Dh 11 billion and their goal is to quadruple it in five years.
