Alpha Dhabi acquires controlling stake in NCTH
ABU DHABI, 13 hours, 34 minutes ago
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.
