RAK National Hotels LLC (RAKNH) has added the 300-key Marjan Island Resort & Spa from Manazil Group to its portfolio of hospitality and leisure assets.
Led by James Wrenn, executive director of Capital Markets in MENA, Colliers orchestrated the recent sale of the 300-key Hotel Marjan Island Resort & Spa to RAK National Hotels (RAKNH), part of RAK Hospitality Holding (RAKHH), on behalf of Manazil Group.
Colliers played a key role in this acquisition, which aligns seamlessly with Ras Al Khaimah’s vision for elevated tourism experiences.
The acquisition adds further scale to RAKNH’s portfolio and underlines its investment on Al Marjan Island, especially following RAKHH’s announcement of the group’s joint venture stake in the highly anticipated Wynn Al Marjan Island. The property is currently operated by Accor Group and will be rebranded as Pullman, the company’s premium hotel brand.
Opened in 2014, the five-star Marjan Island Resort & Spa features 300 keys, eight diverse dining options, a host of recreation activities, beach access, a comprehensive spa and unparalleled sea views. Situated on Al Marjan Island, this established staycation destination benefits from significant growth potential, as the emirate continues to roll out progressive development initiatives to increase tourism numbers.
Alison Grinnell, CEO of RAK Hospitality Holding, commented: “The acquisition of Marjan Island Resort & Spa underscores our continued investment in Ras Al Khaimah and recognizes the huge opportunities in the emirate as it positions itself as an international leisure destination. The property is ideally located to capitalize on these opportunities, and by working with our partner Accor, we believe we can transform the property into a unique destination for tourists.”
Abdul Mohsen Al Hammadi, chairman and CEO of Manazil Group, said: “After being one of the first properties to open on Al Marjan Island back in 2014, Marjan Island Resort & Spa became a steppingstone for our group to enter into the hotel business and open four more hotels managed by Accor within the UAE, namely Movenpick, Novotel and Adagio in Jumeirah Village Triangle, and Pullman Sharjah.”
Ras Al Khaimah’s tourism sector has been experiencing a major period of growth, with a multitude of new hotels, attractions and upgraded historical sites cementing the emirate’s place as the go-to destination for adventure, relaxation and culture.
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