Latest news with #ADHH
Trade Arabia
30-01-2025
- Business
- Trade Arabia
Alpha Dhabi acquires controlling stake in NCTH
Alpha Dhabi Holding has acquired a strategic controlling 73.73% interest in the National Corporation for Tourism and Hotels (NCTH), after selling assets from Alpha Dhabi Hospitality Holding (ADHH) and Murban Energy Limited to NCTH in exchange for shares. The transaction strengthens NCTH's position and Alpha Dhabi Holding's investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets, said a statement. These include two iconic luxury properties in Abu Dhabi – The St. Regis Saadiyat Island Resort and Al Wathba, a Luxury Collection Desert Resort & Spa – as well as the ultra-luxury Cheval Blanc Randheli in the Maldives and the recently opened Cheval Blanc Seychelles. By consolidating its hotel business under the NCTH umbrella through the transfer of ADHH, Murban (BVI) Holding and Hill View Resorts, Alpha Dhabi Holding has reinforced its commitment to growth and diversification, it said. This transfer of properties increases NCTH's portfolio to eight hotels with nearly 1,500 keys, significantly enhancing its hospitality offering.
Zawya
29-01-2025
- Business
- Zawya
Alpha Dhabi acquires 73.73% interest in National Corporation for Tourism and Hotels
ABU DHABI - Alpha Dhabi Holding has acquired a strategic controlling 73.73% interest in the National Corporation for Tourism and Hotels (NCTH), after selling assets from Alpha Dhabi Hospitality Holding LLC (ADHH) and Murban Energy Limited to NCTH in exchange for shares. The transaction strengthens NCTH's position and Alpha Dhabi Holding's investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets. These include two iconic luxury properties in Abu Dhabi – The St. Regis Saadiyat Island Resort and Al Wathba, a Luxury Collection Desert Resort & Spa – as well as the ultra-luxury Cheval Blanc Randheli in the Maldives and the recently opened Cheval Blanc Seychelles. By consolidating its hotel business under the NCTH umbrella through the transfer of ADHH, Murban (BVI) Holding Inc. and Hill View Resorts, Alpha Dhabi Holding has reinforced its commitment to growth and diversification. This transfer of properties increases NCTH's portfolio to eight hotels with nearly 1,500 keys, significantly enhancing its hospitality offering. Eng. Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi Holding, said, '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. The move aligns seamlessly with our long-term strategy to drive impactful and sustainable growth.' The additional destinations join NCTH's existing properties, which 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. Hany Farag, Chief Executive Officer of NCTH, said, 'The integration of these prestigious assets into NCTH's portfolio marks a new chapter for the company, positioning it as a leader in the international luxury hospitality segment by building a globally competitive portfolio. We are excited to offer our guests unparalleled experiences while contributing to the growth of the UAE's thriving tourism sector.'
