News: NNDC hands over Arewa Hotels to S/African firm
The New Nigeria Development Company (NNDC) has entered into an agreement with Castles HMG Africa (Pty) Ltd to take over the operation and management of Arewa Hotels Limited (AHL).
The NNDC and AHL currently own and operate five hotels in Nigeria, including Hamdala Hotel, Kaduna, with plans to expand their operations over the next few years after achieving same over the years across the 19 northern states of Nigeria.
A joint press release on behalf of NNDC signed by Khalil A. Hamzat, Head Investment Supervision Directorate of NNDC, and Oriana Galletti, Director of Corporate Services of AHL, indicate that the agreement is for the purpose of redeveloping and implementing a capital investment and transformation plan to upgrade its facilities and ensure effective asset management of all assets under the ownership or control of Arewa Hotels.
“The agreement fulfils NNDCs vision for a stronger brand equity, a veritable platform for diverse revenue base through significant investment in infrastructure, assets and technology,” the firms explained.
The partnership agreement, the NNDC explained, aims at bridging the gap in the lack of branded hotels in the North as compared to the South of Nigeria.
Acting Group Managing Director of NNDC, Mallam Shehu Mai-Borno, said the signing ceremony was a culmination of over two years of discussions and that all the stakeholders had it as a duty to make the partnership work for the progress of all.
Mallam Mai-Borno assured Castles HMG Africa that NNDC would be fully committed to the realisation of the project.
Chairman/CEO of Castles HMG Africa Pty Limited of South Africa, a subsidiary of Africa Alliance Group, Gregory Ozegbe, said his firm was proud to continue consolidating and developing collaboration with NNDC.
Ozegbe said, “The mutual trust we have built up over the last two years forms the basis for the successful execution of the agreement. For us, the relationship represents a huge step forward in our growth. With this, we have the opportunity to further expand and strengthen our expertise and international hotel brand awareness in the North of Nigeria. We look forward to this new challenge.
By Andrew Agbese