Select Group Acquires Radisson Blu Hotel in Landmark Deal
Deal News | Feb 03, 2025 | Zawya
Select Group, a prominent real estate development and investment firm, has acquired the Radisson Blu Hotel in Dubai Media City for over AED200 million ($54.4 million). This transaction, facilitated by Andrew Love of Knight Frank Mena, signifies the highest recorded hotel sale in Dubai's Media Free Zone, highlighting a strategic acquisition in a highly sought-after location. The hotel, neighboring major corporate headquarters, is set for a comprehensive refurbishment by Select Group to enhance its offerings, especially in food and beverage sectors. The acquisition reflects Dubai's ongoing appeal as a global destination for hotel investments, demonstrating strong investor confidence in its hospitality sector. Legal counsel was provided by Baker McKenzie and Wisefields.
Sectors
- Real Estate Development
- Hospitality
- Legal Services
Geography
- United Arab Emirates – The transaction took place in Dubai, UAE, which is a significant location for real estate and hospitality investments.
Industry
- Real Estate Development – The acquisition of the hotel by Select Group, a real estate development and investment firm, aligns with the industry's focus on strategic asset acquisition and development.
- Hospitality – The article discusses the purchase and planned refurbishment of a hotel, directly involving the hospitality sector's growth and investment trends.
- Legal Services – Legal advisors played a role in facilitating the hotel acquisition, highlighting the importance of legal services in M&A transactions.
Financials
- AED200 million ($54.4 million) – The value of the transaction for acquiring the Radisson Blu Hotel.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Select Group | Buyer | Company | A leading real estate development and investment firm that acquired the Radisson Blu Hotel. |
| Radisson Blu Hotel | Target Company | Company | The hotel property acquired by Select Group in Dubai Media City. |
| Knight Frank Mena | Broker | Company | A real estate consultancy firm that brokered the hotel sale. |
| Andrew Love | Broker | Person | Regional Partner and Head of Capital Markets at Knight Frank Mena, facilitated the transaction. |
| Baker McKenzie | Legal Advisor | Company | Provided legal support for the seamless completion of the hotel acquisition. |
| Wisefields | Legal Advisor | Company | Collaborated as legal advisors for the transaction. |
| Select M City Limited | Acquiring Entity | Company | A subsidiary of Select Investments Limited involved in the acquisition. |