Abu Dhabi National Hotels PJSC, facing acute shortage of funds, has managed to get syndicate loan worth Dh1.5 billion from a group of banks including National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, Standard Chartered Bank and Union National Bank. The move would help the ADNH to complete its pending hospitality projects.

The ADNH has been currently developing projects such as the Grand Canal Abu Dhabi, Park Hyatt, Villas in Saadiyat Island and Capital Centre Hotel at the Abu Dhabi National Exhibition Centre.

Saif Al Hajeri, Chairman of the ADNH, while signing a facility agreement with ADNH CEO Richard W. Riley said, "This strategic alliance of local and international banks came in line with the innovative and strategic plans of ADNH to support the growth of the UAE, Emirate of Abu Dhabi economy and tourism infrastructure."

Abu Dhabi National Hotels boasts of owning a large number of hotels in the country including Al Ain Hilton Abu Dhabi, Sheraton Abu Dhabi, Le Meridien Abu Dhabi, Sofitel Jumairah Beach Residence Dubai and the Al Diar Hotels group of hotels in Abu Dhabi, Dubai and Fujairah.