Abu Dhabi's Alpha Dhabi buys LVMH-operated Maldives resort days after acquiring a St. Regis
LVMH-operated Cheval Blanc Randheli resort bought from another Abu Dhabi entity Murban
Dubai: Abu Dhabi’s big spending Alpha Dhabi has just added another hotel to its portfolio – the “much sought after” Cheval Blanc Randheli resort in the Maldives.
This was done through further asset acquisitions from another Abu Dhabi entity, Murban. It was recently that Alpha Dubai picked up the eye-catching St. Regis at Saadiyat Island as well as the Al Wathba Luxury Collection Desert Resorts from Murban. (Alpha Dhabi itself is part of the mammoth International Holding Co.'s collection. It recently bought a stake in master-developer Aldar.)
This brings the total value of purchases from Murban to Dh2.5 billion, including Etihad International Hospitality, a facilities management company. Hamad Al Ameri, Managing Director of Alpha Dhabi Holding, said: “This latest acquisition further expands Alpha Dhabi’s strong hospitality development division.
"By adding Emirates International Hospitality, a pioneer facility management company with a broad base of premium clients, we are also becoming more vertically integrated and creating growth opportunities by leveraging our position as part of the wider group of IHC companies.”