10 February 2019

Nigeria: NNDC, South African Firm to Revamp Arewa Hotels

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Kaduna — The 19 Northern States, owners of New Nigeria Development Company (NNDC) Limited, have resolved to embark on the resuscitation of ailing Arewa Hotels, as they enter into an agreement with a South African firm.

As part of the agreement, NNDC and the South African firm, Castles HMG Africa (Pty) Limited, a subsidiary of Africa Alliance Group (AAG), will revamp the Hamdala Hotel in Kaduna and other business interests belonging to the Northern states.

Also, part of the joint agreement with the foreign firm is to take over the operation and management of Arewa Hotels Development Ltd.

In a statement issued at the weekend, the acting Managing Director of NNDC, Mallam Shehu Mai-Bornu said the South African firm, which agreed to enter into the joint agreement " targets investments in sizeable underperforming / dilapidated hotel property in strategic locations, that can be refurbished, restructured or repositioned and where Castles HMG's active operation / management strategy and expertise can be leveraged."

Mai-Bornu said: "The agreement fulfils NNDC's vision for a stronger brand equity, a veritable platform for diverse revenue base through significant investments in infrastructure, assets and technology.

Meanwhile, the Chairman of Castles HMG Africa Pty Limited, Gregory Ozegbe said: "We are proud to continue consolidating our collaboration with NNDC, our strong expansion partner."

The major hotels which fell within the purview of the joint agreement also include Sokoto Hotel; Shiroro Hotel, Minna; Lake Chad Hotel, Maiduguri; and Aso Motel, Kaduna, among others.


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