Breaking News

Dubai investors take stake in hospitality group

Investment Corporation of Dubai (ICD) today announced that it has completed the purchase of a significant equity interest in the leading international developer and operator of destination resorts and luxury hotels, Kerzner International Holdings Limited (KIHL), from the Kerzner family and several other institutional investors, for an undisclosed sum.

Istithmar and certain affiliates of Goldman Sachs and Colony Capital will continue to have significant holdings in the Company.

KIHL operates globally under the One&Only and Atlantis brands, with international presence in Dubai, The Bahamas, Mauritius, The Maldives, Mexico, South Africa and soon, Australia. The move by ICD in the hotel and tourism sector in Dubai follows its acquisition earlier this year of Atlantis, The Palm resort

Leave a Reply

Your email address will not be published. Required fields are marked *