Oman's Al Falaj Hotel sells for OMR14M

On Monday, Oman Hotels and Tourism Company announced that its shareholders have unanimously approved a proposal to sell both the assets and the operating business of the Al Falaj Hotel (a unit of Oman Hotels and Tourism Company) for OMR14 million to Aitken Spence Resorts (Middle East). According to the Times of Oman, the decision was taken at an extraordinary general meeting of Oman Hotels and Tourism Company on January 24.

In a separate disclosure statement on the Muscat Securities Market, Oman & Emirates Investment Holding Company said that it owns 31.2 percent in the capital of Oman Hotels and Tourism Company.

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According to the company website, Aitken Spence Hotels operates a chain of 24 hotels and resorts in Sri Lanka, India, Oman, and the Maldives under two premier brands: Heritance Hotels and Resorts and Adaaran Resorts and Spa. Assets include Heritance Kandalama and the Desert Nights Camp in Oman.

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