Abu Dhabi could soon see the rise of a new regional hospitality leader, should a proposal to unite enterprise group ADQ, Abu Dhabi National Hotels Company PJSC (ADNH) and Abu Dhabi National Exhibitions Company (ADNEC) come to pass.
ADQ launched in 2018, but has quickly become one of the region’s largest holding companies with a portfolio spanning major sectors such as sustainable energy, healthcare, commerce, logistics, food supply, financial services and more.
The company has submitted an offer to ADNH and ADNEC towards growing a broader platform for attracting business travel and tourism to the UAE capital, and as part of the emirate’s vision for a longer-term, economic transformation.
Should the transaction come to pass in the second half of 2021 — pending shareholder and regulatory approvals — the combined group would own assets of approximately AED 20 billion (US$5.4 billion).
The activities of this resulting union would translate to 28 hotels, several catering and F&B outlets, as well as three global exhibition centres in Abu Dhabi, Al Ain and London.
Mansour AlMulla, chief investment officer, alternative investments and mergers & acquisitions, ADQ, said: “This proposed offer provides a unique opportunity to create value by bringing together two major players in Abu Dhabi’s hospitality and events sector. The combined company would benefit from increased scale, new revenue opportunities, and an enhanced capital structure that will position it well for future growth.”