UAE's ADNEC acquires DoubleTree By Hilton London ExCel

The addition brings ADNEC’s total portfolio of hotels to six

  
The Abu Dhabi National Exhibitions Company (ADNEC), part of ADQ, has added a new hotel to its portfolio: the DoubleTree By Hilton London ExCel. Image courtesy WAM.

The Abu Dhabi National Exhibitions Company (ADNEC), part of ADQ, has added a new hotel to its portfolio: the DoubleTree By Hilton London ExCel. Image courtesy WAM.

ABU DHABI - The Abu Dhabi National Exhibitions Company (ADNEC), part of ADQ, has added a new hotel to its portfolio: the DoubleTree By Hilton London ExCel.

The announcement comes in line with ADNEC’s long term investment strategy aimed at diversifying its business across the Group and achieving optimal integration of its assets through diversified economic sectors.

The addition brings ADNEC’s total portfolio of hotels to six, with other hotels under management including the Aloft Abu Dhabi, Andaz Capital Gate, Abu Dhabi, the Anantara Sir Bani Yas Island Abu Dhabi, and the Qasr Al Sarab Desert Resort by Anantara in the UAE. It also owns the Aloft London ExCel.

Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC, commented, "ADNEC is proud to welcome the DoubleTree By Hilton London ExCel to our portfolio. ADNEC holds a long-term investor perspective in identifying and acquiring key assets in developed markets."

He added that this acquisition strengthens the Group’s competitiveness, increases the direct and indirect economic contributions of the hotel and hospitality sector to the UK economy, and further enhances the business tourism sectors in both nations.

"This acquisition reinforces our commitment to sustain the development of local communities alongside bolstering the relationship between the public and private sector," Al Dhaheri noted.

Jeremy Rees, Chief Executive Officer at ExCeL London, said, "We have seen the commitment of Abu Dhabi and ADNEC towards the events sector through generating jobs and driving economic impact for London. We are confident that the addition of this new hotel will further solidify ExCeL’s wider competitive offering, in line with ADNEC’s wider global growth strategy."

Alex Pritchard, Co-Founder and Co-Chief Executive Officer of Axiom Hospitality, who will oversee the management of the hotel, stated, "The addition of the DoubleTree By Hilton Hotel London ExCel will expand our hotel portfolio in London to six assets. The hotel is a strong quality asset in a strategically important location. The Axiom Hospitality team is excited to be involved in this high profile transaction and excellent asset."

The completion of the transfer of the hotel to ADNEC is effective immediately.

© Copyright Emirates News Agency (WAM) 2021.


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