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ABU DHABI / WAM
Alpha Dhabi Holding PJSC (Alpha Dhabi), one of the fastest-growing investment holding companies in the Mena region, and National Corporation for Tourism and Hotels (NCTH), the owner and manager of some of Abu Dhabi’s best-known hotels, have completed a strategic transaction which unites 3 of Alpha Dhabi’s hotel businesses within the NCTH portfolio.
Alpha Dhabi has a 36.4% shareholding intoe NCTH, who have acquired 100% stakes in ADH Hospitality, Murban (BVI) Holding Inc, and Hill View Resorts — Seychelles.
Under the transaction, which is subject to regulatory approvals, NCTH (and Alpha Dhabi) have bolstered their position as value creating businesses within the luxury segment of the hospitality sector through a strong presence in the UAE market as well as a growing footprint into the ultra-luxury segment internationally.
The transaction adds St Regis Saadiyat, Al Wathba Luxury Collection, both luxury resorts in Abu Dhabi as well as the ultra-luxury Cheval Blanc in the Maldives and the soon to open Cheval Blanc Seychelles to NCTH’s growing portfolio of hotel assets. The resorts join other leading hotels under the NCTH portfolio. The transaction increases the total managed and owned hotels in the NCTH portfolio to 8 hotels with almost 1,500 total keys.
Eng Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: “Our growing portfolio of luxury hotels in the UAE, Maldives, and Seychelles reflects the energy and vibrancy of these world-leading tourist destinations. By uniting our hotel brands under the NCTH umbrella, we have substantial direct and indirect investment both here in the UAE and internationally that will serve as an engine of growth and diversification within our existing investment portfolio.”
Hany Farag, Chief Executive Officer NCTH, said: “The hospitality, lifestyle, and tourism sectors show no signs of slowing, offering long-term growth potential for hoteliers. There is also strong demand for luxury brands across the region in exciting markets at highly sought after locations. Through this acquisition we are able to capture these opportunities by consolidating much-loved brands and by adding further depth, diversification, and sophistication to our portfolio. As always, we seek to enrich guests with memorable experiences as well as elevating the local communities at the world-leading destinations where we operate.”
Alpha Dhabi acquired a 36.4% shareholding in National Corporation for Tourism and Hotels in May 2023. This acquisition in consideration for shares will increase Alpha Dhabi total shareholding in NCTH. Both Alpha Dhabi and NCTH seek to capture the increasingly strong demand for luxury tourism offerings in the UAE and beyond.