SICO announces the successful sale of Novotel Al Dana Resort in Bahrain to Gulf Hotels Group, enhancing the latter's market presence in the country's growing hospitality sector.
Target Information
The Novotel Al Dana Resort is a premier hotel located in Bahrain, recognized for its exceptional hospitality services. The resort provides a unique blend of luxury and comfort, making it a favored choice for both leisure and business travelers. Recently, it has caught the attention of major industry players, leading to significant investment opportunities.
Following the execution of a sale and purchase agreement, 100% ownership of the Novotel Al Dana Resort has been acquired by Gulf Hotels Group from Al Jazeera Tourism Company (AJTC). This transaction marks a noteworthy shift in ownership within Bahrain's competitive hospitality market.
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Industry Overview in Bahrain
Bahrain's hospitality industry is witnessing robust growth, largely driven by the country's strategic initiatives to enhance tourism and business travel. The government has prioritized the development of the h
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Gulf Hotels Group
invested in
Novotel Al Dana Resort
in 2023
in a Buyout deal