Alpha Dhabi acquires Abu Dhabi hotels after taking 74 per cent stake in National Corporation for Tourism and Hotels.
Alpha Dhabi Holding has acquired a strategic controlling 73.73 per cent 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. It also includes 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.”