Dubai International Capital (DIC), the private equity arm of Dubai Holding, today announced the sale of the Holiday Inn Express in Manama - Bahrain to a private consortium for an undisclosed sum.
The hotel was owned by DIC through
The recent launch of the $40 million Holiday Inn Express Bahrain, the kingdom's first limited service hotel, is indicative of the growing opportunities in the kingdom for the travel and tourism sector over the coming decade, said officials.
The direct contribution of travel and tourism to Bahrain’s GDP is set to grow by 3.7 per cent per annum between now and 2022 to $ 2.04 billion, said a recent report published by the World Travel and Tourism Council.
In 2022, trave
Top global hospitality chain InterContinental Hotels Group (IHG) has announced the opening of the first Holiday Inn Express in Bahrain.
The 274-room, which cost $40 million to build, will open for service at Exhibition Avenue.
Dubai-based Almulla Group has acquired Ishraq Dubai, which owns many hotels in the UAE, from Dubai International Capital (DIC), the private equity arm of Dubai Holding.
Ishraq Dubai was 51 per cent owned by DIC and 49 per cent by Ishraq Gu
InterContinental Hotels Group (IHG) and Ishraq Gulf Real Estate Holding Company will further strengthen the Holiday Inn Express brand in the Gulf in 2009 with two new properties in the UAE and Bahrain.
Due to open in the summer in Dubai’s
InterContinental Hotels Group (IHG) has partnered with Ishraq Gulf Real Estate Holding Company to launch the Holiday Inn Express Dubai Safa Park – the first property to begin trading under the brand’s new name.
Holiday Inn Express Dubai S
InterContinental Hotels Group (IHG) has signed an exclusive franchise agreement with Siraj Capital to develop the Holiday Inn Express brand in Saudi Arabia.
A total of 12 new properties are set to open within five years. The