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.


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

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.

Photo courtesy

Suggested Articles

Hotel investment in Spain and Portugal has not yet reached its peak, with the appetite for urban hotels expected to grow this year.

Meliá Hotels International's Gabriel Escarrer discusses the group's work to become more environmentally friendly.

The recent spate of deals involving resorts has drawn investors to the sector, with groups such as Blackstone looking to build platforms.