Monday, Oct 03, 2011
Gulf News
Dubai: Dubai-based Al Mulla Group said it has acquired Dubai International Capitals (DIC) stake in Ishraq Dubai LLC.
Ishraq Dubai was 51 per cent owned by DIC and 49 per cent owned by Ishraq Gulf Real Estate Holding BSC, which in turn is majority owned by DIC.
Ishraq Dubai owns four hotels in Dubai operating under the franchised Holiday Inn Express (HIEX) brand. HIEX is InterContinental Hotels limited service brand, targeting the price-conscious business and leisure travellers seeking quality lodgings at affordable rates.
Saeed Al Mulla, Chairman of Almulla Group, said: We have a long and successful track record of owning and managing major 4 and 5 star hotels across Dubai and the Holiday Inn Express hotels will complement our current portfolio.
Staff Report
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