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Alpha Dhabi takes majority stake in ADX-listed hotel operator  

NCTH/X
The transfer of properties increases NCTH’s portfolio to eight hotels with 1,500 keys

Alpha Dhabi Holding, which is listed on the Abu Dhabi Securities Exchange (ADX), has acquired a controlling 73.73 percent stake in the National Corporation for Tourism and Hotels (NCTH) via a swap deal.

The stake was acquired after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy to Abu Dhabi-listed NCTH in exchange for shares.

The transaction involves the transfer of four key hotel assets, including two luxury properties: St. Regis Saadiyat Island Resort and Al Wathba in Abu Dhabi, as well as Cheval Blanc Randheli in the Maldives and Cheval Blanc Seychelles.

The transfer of properties increases NCTH’s portfolio to eight hotels with 1,500 keys.

Hamad Salem Al Ameri, CEO of Alpha Dhabi Holding, said this transaction will create value in high-potential sectors, such as luxury tourism and a growing footprint in the international ultra-luxury segment.

NCTH’s existing properties include the InterContinental Abu Dhabi, InterContinental Residences Abu Dhabi, Danat Al Ain Resort, Danat Jebel Dhanna Resort, and Dhafra Beach Hotel.