Stock - Alpha Dhabi
The transaction bolsters the group's hospitality, lifestyle and F&B portfolio. Image Credit: WAM

Abu Dhabi: Alpha Dhabi Holding has acquired a 36.4 per cent shareholding in National Corporation for Tourism and Hotels, an Abu Dhabi-based hospitality owner, manager, and operator, for a total consideration of Dh730 million, the company said on Thursday.

Hamad Salem Al Ameri, CEO 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.”