Abu Dhabi Islamic Bank financed USD 53 million acquisition of Travelodge Hotel at London’s Heathrow Airport
The property was acquired by a Saudi based client for USD 53 million.
Nakheel is also building six marinas, at a cost of USD 45 million, at its new waterfront master development, Deira Islands.
The industry is gearing up for the huge influx of tourists for mega events, the report said.
USD 1 billion joint sustainable hospitality fund launched by Katara Hospitality and Accorhotels dedicated to Sub-Saharan African countries
It will target greenfield projects, brownfield projects and conversions of existing hotels through acquisitions, in a region which offers robust growth opportunities.
The Gulf Court Hotel Business Bay in Dubai has 269 rooms and suites offering views of the Dubai Canal or the city.
The purchase marks the latest example of Accor’s recent acquisition spree, with the French group agreeing to buy Chile’s Atton Hoteles last month.
Madinat Al Irfan will feature more than 11,000 residential units comprising villas, townhouses and apartments, 100,000 m2 of retail space, 700,000 sqm of office space, as well as a number of cultural and lifestyle offerings.