The Abu Dhabi National Exhibitions Company (ADNEC), a subsidiary of Abu Dhabi Sovereign Fund (ADQ), one of the region’s leading holding companies, has added the DoubleTree By Hilton Hotel London ExCel to its portfolio.
The announcement came in accordance with ADNEC’s long-term investment strategy, which aims to diversify the Group’s business and achieve optimal asset integration through various economic sectors.
The addition has brought ADNEC’s total hotel portfolio to six, with the Aloft Abu Dhabi, Andaz Capital Gate, Abu Dhabi, the Anantara Sir Bani Yas Island Abu Dhabi, and the Anantara Qasr Al Sarab Desert Resort by Anantara in the UAE. It also owns the Aloft London ExCel.
“ADNEC is proud to welcome the DoubleTree By Hilton London ExCel to our portfolio. This acquisition reinforces our commitment to sustain the development of local communities alongside bolstering the relationship between the public and private sector.”
The acquisition is expected to boost the Group’s competitiveness, raise the hotel and hospitality sector’s direct and indirect economic contributions to the UK economy, and improve the business tourism sectors in both countries.
Mr. Jeremy Rees, CEO of 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.”
ADNEC’s new investment is part of a long-term strategy that began with the acquisition of ExCeL London in 2008. It started building a 35,000-square-meter event space, including the London International Convention Centre (ICC), with Europe’s largest auditorium (4,500 seats), 17 extra meeting rooms, and breakout and banquet space.