NCTH acquires three ofAlpha Dhabi’s subsidiaries: The National Corporation for Tourism and Hotels (NCTH) will move forward with its bid to fully absorb three of Alpha Dhabi’s hotel businesses into its portfolio through a share swap agreement, according to two separate disclosures (pdf and pdf). The businesses that were targeted for the acquisition are ADH Hospitality, Murban (BVI) Holding, and Hill View Resorts in the Seychelles. The transaction, whose value was not disclosed, is still subject to regulatory approval.

The details: Alpha Dhabi will get 1.25 bn new shares in NCTH, raising its stake in the company, after the company completes a capital increase to AED 2.15 bn. Alpha Dhabi remains the company’s largest single shareholder.

NCTH has added several new hotels to its portfolio through the acquisition, including Abu Dhabi luxury resorts St Regis Saadiyat and Al Wathba Luxury Collection, the Cheval Blanc in the Maldives, and the soon to open Cheval Blanc Seychelles,. The transaction increases the total managed and owned hotels in the NCTH portfolio to eight hotels.

Background: The companies that will be acquired — ADH Hospitality, Murban BVI Holding, and Hill View Resorts Seychelles — were originally part of Murban’s asset portfolio, but were incorporated into Alpha Dhabi’s after it acquired Murban back in 2021.

*This story was amended to clarify that the number of new shares Alpha Dhabi will get in NCTH is 1.25 bn, not 913 mn as we had previously reported.  

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