UAEBusiness

Abu Dhabi’s hotel sector sees major shift after Alpha Dhabi deal

Alpha Dhabi consolidates all of its hospitality business under ADX-listed operator

The investment giant Alpha Dhabi Holding has bought 73.73% in the National Corporation for Tourism and Hotels (NCTH). This comes after selling assets from Alpha Dhabi Hospitality Holding (ADHH) and Murban Energy Ltd. to NCTH in exchange for shares.

This brings all of Alpha Dhabi’s hotel businesses under the NCTH umbrella through the transfer of ADHH, Murban (BVI) Holding Inc. and Hill View Resorts. In doing so, “Alpha Dhabi Holding has reinforced its commitment to growth and diversification,” said a statement.


This transfer of properties increases NCTH’s portfolio to eight hotels with nearly 1,500 keys, thus ‘significantly enhancing its hospitality offering’.

Alpha Dhabi thus has extended its consolidation strategy to the hospitality sector too. The company has interests spanning multiple sectors, including real estate,construction and others.

“This transaction underscores Alpha Dhabi Holding’s commitment to creating value in high potential sectors, such as luxury tourism, through a strong presence in the UAE market as well as a growing footprint in the international ultra-luxury segment,” said Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi Holding.

“The move aligns seamlessly with our long-term strategy to drive impactful and sustainable growth.”


Which hotels are involved?

The transaction ‘involves the transfer of four key hotel assets’.

These include two luxury properties in Abu Dhabi – The St. Regis Saadiyat Island Resort and Al Wathba, a Luxury Collection Desert Resort & Spa. In addition, there are the ultra-luxury Cheval Blanc Randheli in the Maldives and the recently opened Cheval Blanc Seychelles.

NCTH’s existing properties include the InterContinental Abu Dhabi and InterContinental Residences Abu Dhabi, as well as the Danat Al Ain Resort, Danat Jebel Dhanna Resort, and Dhafra Beach Hotel. (NCTH also provides associated services in catering, retail, and transportation.)

“The integration of these prestigious assets into NCTH’s portfolio marks a new chapter for the company,” said Hany Farag, CEO of NCTH. This positions NCTH as a ‘leader in the international luxury hospitality segment by building a globally competitive portfolio’.

ADX-listed ADNH Catering has acquired the entire equity of a catering business specialising in serving up meals at schools. Food Nationa Catering Services feeds over 70,000 students in three emirates and has a staff of over 300. This is the second major deal for ADNH Catering after buying a controlling stake in its Saudi joint venture.

“Food Nation brings valuable experience and a proven history of delivering tailored catering solutions at scale,” said Clive Cowley, CEO of ADNH Catering.

Source: gulfnews

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