June 25, 2024

Aplha Dhabi, a significant player in the hospitality sector

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Engr. Hamad Salem Al Ameri
Engr. Hamad Salem Al Ameri, Managing Director and CEO, Alpha Dhabi Holding

Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange and has acquired a 36.4 percent shareholding in National Corporation for Tourism and Hotels, an ADX-listed and Abu Dhabi based hospitality owner, manager, and operator. The share acquisition was executed via a purchase from an existing shareholder for a total consideration of AED 730 million.

Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi

Commenting on the transaction, Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said: “We continue to see strong and long-term growth potential of the UAE’s hospitality, lifestyle and tourism sectors and are emboldened by the robust economic, real estate and tourism fundamentals and resilience that the UAE continues to exhibit; fundamentals which have seen Abu Dhabi attract a growing number of visitors, supported by an increasingly busy entertainment, sporting and business events calendar.”

“The transaction is value accretive to our portfolio and not only bolsters our hospitality, lifestyle and F&B credentials, but adds weight to our ambitions as we continue to accelerate the diversification of both our operating and investment portfolio in this space with a vision to build an integrated and premier hospitality and F&B portfolio.”

In line with Alpha Dhabi’s growth strategy to add scale and diversify across one of its core verticals, the transaction follows numerous recent acquisitions and investments in this sector including Alpha Dhabi’s increased shareholding in Aldar Properties and investment in Nammos Group, both of which were made during 2022. Furthermore, Alpha Dhabi’s current asset-rich hospitality portfolio includes the exclusive Cheval Blanc Randheli (LVMH’s second hotel venture), St. Regis Saadiyat as well as the Al Wathba Luxury Collection Desert Resorts.

Founded in 1996, NCTH takes an active role in the development of the tourism and hospitality sectors in the UAE. With a wide remit across these sectors, NCTH’s portfolio of managed and owned hotels includes the InterContintental Abu Dhabi, amongst others. NCTH’s core offering comprises catering services, development, hotel management, asset management as well food and beverage concept and franchising.

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