The First Investor Group buys Carlton Downtown Hotel in Dubai
Expanding its footprint in the hospitality sector, Dubai-based The First Investor group, a subsidiary of Al Fardan Group, announced the purchase of the Carlton Downtown hotel on Sheikh Zayed Road. Formerly the Warwick Hotel, it is the third hotel to be operated by Carlton Hotel Management – a brand owned by The First Investor, and the ninth in the group’s collection of hotels.
Commenting on the strategic investment, Mr Hosni Abdelhadi, CEO of Carlton Hotel Management company said: “The Carlton Downtown hotel is an exciting addition to our portfolio of hotels as we continue to expand our presence in the region. Our strategy is to invest in high-growth markets such as Dubai and this fantastic acquisition will reinforce our market position. We are confident that the Carlton Downtown hotel will prove to be a valuable asset for us and will generate superb financial returns for the company.”
Brilliantly located in close proximity to the World Trade Center, DIFC and Downtown Dubai, the 47-storey spectacular tower features 357 rooms (275 suites and 82 spacious rooms). Included in the hotel’s fabulous facilities are seven restaurants and bars, 10 meeting rooms, a health club and spa. Carlton Downtown hotel is also home to Dubai’s highest open-air rooftop pool and bar with spectacular 360º views over the city.
With a strong presence in real estate, hospitality, shipping, finance, retail, security, IT, food and beverage industries, The First Investor has a diverse portfolio. Over the last few years the company has emerged as a major player in the hospitality sector with a total investment of over AED 2.2 billion in various hotel projects. Hotels owned by the company include Carlton Downtown – Dubai, Carlton Palace Hotel – Dubai, Carlton Tower Hotel – Dubai, Marriott Executive Apartments – Dubai, Villa Rotana – Dubai, Four Points by Sheraton – Dubai, Imperial Palace – Jordan, Sun Hotel – Czech Republic and Belvedere Hotel, Czech Republic.