Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Action Hotels buys plot in the heart of Dubai

Action Hotels has acquired new freehold land in Dubai.
Action Hotels buys plot in the heart of Dubai
The acquisition will be the group’s second hotel in Dubai.
Action Hotels (LON:AHCG), a leading owner and manager of economy and midscale branded hotels, has acquired new freehold land in the heart of Dubai’s Media City.
 
The acquisition is part of the company’s ongoing growth plan focused on the Middle East, capitalising on a booming tourism industry and intra-regional business travel. 
 
The plot of land is located within the Media City’s Innovation Hub, due to open in 2017. It is situated less than 1km from the coast and is surrounded solely by five star hotels, with only one other mid-market hotel in the vicinity.
 
The midscale hotel market in the region is significantly underserved compared to the US and Europe. The Gulf Cooperation Council in particular is expected to become one of the largest growing economies in the world.
 
In 2014, Dubai Airport overtook Heathrow as the world’s busiest airport. The acquisition will be the group’s second hotel in Dubai. 
 
"I am delighted that we have agreed to acquire this prime freehold plot of land in such a desirable area. This acquisition reinforces our presence in key locations in Dubai,” said founder and chairman Sheikh Mubarak A M Al-Sabah. 
 
It currently operates nine completed properties offering more than 1500 guest rooms in six countries with plans to grow its portfolio to 17 hotels. 
View full AHCG profile View Profile

Action Hotels PLC Timeline

Newswire
December 05 2016

Related Articles

Ibis hotel facade
September 19 2017
“[The performance] underpins Action's resilient business model in the economy and midmarket hotel sector," the company told investors

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use