THE New Nigeria Development Company Ltd (NNDC) belonging to the 19 Northern states has entered into an agreement with Castles HMG Africa (Pty) Ltd, a South African firm to take over the operation.
This was contained in a statement issued to the Nigerian Tribune and signed by the Acting Managing Director of NNDC, Mallam Shehu Mai-Bornu.
The statement disclosed that the signing of the agreement was the culmination of two years of discussions and that all stakeholders should ensure that the partnership entered between the two parties work.
“The agreement fulfills NNDCs vision for stronger brand equity, a veritable platform for diverse revenue base through significant investments in infrastructure, assets and technology.
”Both NNDC and Arewa Hotels currently own or operate five (5) hotels in Nigeria including the iconic Hamdala Hotel, Kaduna with plans to expand its operations over the next few years, a feat that it has achieved in the past across the 19 Northern States of Nigeria.
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According to the statement, ‘Castles HMG Africa Pty Limited targets investments in sizeable underperforming/dilapidated hotel properties in strategic locations, that can be refurbished, restructured or repositioned and where Castles HMG’s active operation/management strategy and expertise can be leveraged.
”The partnership agreement aims to bridge the huge gap in the lack of branded Hotels in the North as compared to the Southern parts of Nigeria.
”The Ag. Group Managing Director of NNDC, Mallam Shehu Mai-Bornu assured Castles HMG Africa that NNDC will be fully committed to the realization of the project.
On their part, the Chairman and Chief Executive Officer of Castles HMG, South Africa, Gregory Ozegbe remarked that ”We are proud to continue consolidating and developing our collaboration with NNDC, our strong expansion partner.
”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 Northern part of Nigeria.
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