Alpha Dhabi Check-in as Major Player in the Hospitality Industry withAED 730 million National Corporation for Tourism & Hotels Acquisition
• The transaction makes Alpha Dhabi Holding the single largest shareholder in ADX-listed National Corporation for Tourism and Hotels.
Abu Dhabi, UAE; 11 May 2023: Alpha Dhabi Holding PJSC, one of the fastest-growing investment
holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: ALPHADHABI)
and has acquired a 36.4% shareholding in National Corporation for Tourism and Hotels (ADX:
NCTH), 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.
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.