TNI to invest $50m on hotel overhaul

05/09/2011 - Northern Emirates Property & Investment News Posted by Neil King
TNI to invest $50m on hotel overhaul

The Mafraq Hotel in Abu Dhabi is set to undergo a $50 million refurbishment, it has been reported.According to Hotelier Middle East, The National Investor (TNI) is set to overhaul and expand the hotel.Rob Rowell, TNI vice-president of real estate, told the news provider: "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."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."The news follows the release of the latest Hotel Benchmark Survey by Ernst & Young Middle East, which showed that hotels in Dubai recorded a revenue per available of Dh470 in July up from Dh385 in the previous year.