NCTP and Alpha Dhabi elevate luxury tourism with key acquisitions

Friday, March 15, 2024

In a significant move poised to enhance tourism, the National Corporation for Tourism and Hotels (NCTH) has expanded its collection of luxury accommodations by acquiring key assets from Alpha Dhabi Holding PJSC. This strategic acquisition brings the esteemed St Regis Saadiyat and Al Wathba Luxury Collection from Abu Dhabi, alongside the distinguished Cheval Blanc in the Maldives and the eagerly anticipated Cheval Blanc Seychelles, into NCTH’s already impressive array of hotel properties.

Alpha Dhabi Holding PJSC, a rapidly advancing investment holding company within the MENA region, alongside NCTH, renowned for managing some of Abu Dhabi’s premier hotels, have successfully concluded a deal that transfers ownership of three of Alpha Dhabi’s hotel enterprises to NCTH’s portfolio.

This collaboration sees Alpha Dhabi injecting a 36.4% shareholding into NCTH, which has taken over complete ownership of ADH Hospitality, Murban (BVI) Holding Inc., and Hill View Resorts – Seychelles. Pending regulatory approval, this deal cements both entities’ roles as influential contributors to the luxury hospitality segment. Their combined efforts are expected to enhance their footprint in the UAE while extending their reach into the ultra-luxury sector on a global scale.

This transaction enriches NCTH’s portfolio with the addition of two luxury resorts in Abu Dhabi – St Regis Saadiyat and Al Wathba Luxury Collection, along with the ultra-luxury Cheval Blanc in the Maldives, and introduces the soon-to-be-launched Cheval Blanc Seychelles. These new acquisitions join NCTH’s existing premium hotels, escalating the total to eight properties under its management and ownership, encompassing nearly 1,500 keys in total.

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, remarked on the transaction, highlighting the added vibrancy and potential for growth these luxury properties bring to prominent tourist destinations like the UAE, Maldives, and Seychelles. The consolidation under NCTH aims to leverage direct and indirect investments to stimulate growth and diversification within their investment portfolio.

Hany Farag, CEO of NCTH, emphasized the enduring prospects and strong demand within the hospitality, lifestyle, and tourism sectors, especially for luxury brands in prime locations. This acquisition allows NCTH to tap into these lucrative opportunities, enhancing its portfolio with well-regarded brands and furthering its commitment to providing unforgettable experiences to guests and benefiting the communities in these top-tier destinations.

Alpha Dhabi’s strategic decision in May 2023 to increase its stake in NCTH through this acquisition reflects a concerted effort to capitalize on the growing demand for luxury tourism in the UAE and internationally.

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