Abu Dhabi Nationwide Exhibitions Firm (ADNEC) is shifting ahead with a diversification technique, taking up Etihad Holidays from Etihad Airways.
The enterprise will combine with Tourism 365, the ADNEC promotion enterprise.
ADNEC is a part of holding firm ADQ, owned by the Abu Dhabi state.
As Etihad can also be owned by the federal government, the deal successfully transfers the enterprise from one a part of the state to a different.
Humaid Matar Al Dhaheri, chief government of the Abu Dhabi Nationwide Exhibitions Firm, mentioned: “ADNEC is proud to welcome this essential enterprise entity into its portfolio.
“We maintain a long-term investor perspective in figuring out and buying key belongings in developed markets.”
He added: “This choice additional reinforces our dedication to funding in progress alternatives which can ship long run returns to the group.
“ADNEC Group has wide-ranging expertise in overseeing profitable tourism and hospitality belongings and can convey the identical insights and strategic focus to make sure the continued success of this essential entity.”
Tourism 365 will function Etihad Holidays, taking it from a platform centered on the native market to a fully-fledged tour operator supplying on-line and conventional journey businesses with Etihad community vacation packages from key supply markets.
Capital Expertise, the vacation spot administration arm of Tourism 365, would be the unique provider of Etihad Holidays throughout the UAE in terms of accommodations, transfers and points of interest.