Following Kitopi’s investment, HN spoke with Mario Arjan, the company’s managing director, UAE, to learn about the company’s upcoming plans.
As per AHIC’s report, most of these are big tourism investments in KSA led by the Red Sea Project, NEOM, Amaala, Diriyah Gate and Al-Ula.
A Club Deal is a relatively straightforward investment approach where investors pool their money to acquire a controlling or large stake in a business.
In the Middle East, foodservice companies traded on stock exchanges seem to be less exposed by comparison, but short-term liquidity is the biggest risk factor.
The combined business will act as a standalone entity comprising 73 hotels under 12 brands, including the Hoxton and Mama Shelter, and more than 150 restaurants and bars.
A marriage between the two firms would propel them far ahead of U.S. rival Marriott by number of hotel rooms, with over 1.6 million between the two.
The largest global event of its kind aims to raise funds that will provide direct and tangible financial relief for restaurants worldwide.