Abu Dhabi’s Alpha Dhabi buys LVMH-operated Maldives resort days after acquiring a St. Regis

Maldives2019
The Maldives has been a choice getaway spot for UAE residents all through the last 12 months. Now, Alpha Dhabi has picked up a most sought after resort there. Image Credit: Supplied

Dubai: Abu Dhabi’s big spending Alpha Dhabi has just added another hotel to its portfolio – the “much sought after” Cheval Blanc Randheli resort in the Maldives.

This was done through further asset acquisitions from another Abu Dhabi entity, Murban. It was recently that Alpha Dubai picked up the eye-catching St. Regis at Saadiyat Island as well as the Al Wathba Luxury Collection Desert Resorts from Murban. (Alpha Dhabi itself is part of the mammoth International Holding Co.’s collection. It recently bought a stake in master-developer Aldar.)

This brings the total value of purchases from Murban to Dh2.5 billion, including Etihad International Hospitality, a facilities management company. Hamad Al Ameri, Managing Director of Alpha Dhabi Holding, said: “This latest acquisition further expands Alpha Dhabi’s strong hospitality development division.

A ‘Louis Vuitton’ touch

Opening in 2013, the Cheval Blanc Randheli was LVMH’s (Louis Vuitton Moët Hennessy) second hotel venture after establishing the renowned Cheval Blanc Courchevel in France. LVMH succeeded in creating a tropical property that sits harmoniously in its exotic surroundings.

“By adding Emirates International Hospitality, a pioneer facility management company with a broad base of premium clients, we are also becoming more vertically integrated and creating growth opportunities by leveraging our position as part of the wider group of IHC companies.”