ADNEC Acquires Etihad Holidays To Expand Its Footprint In Tourism
Muhammad Irfan 4 days ago Thu 25th November 2021 | 03:30 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 25th Nov, 2021) The Abu Dhabi National Exhibitions Company (ADNEC), part of ADQ, is taking the next step in its business diversification strategy with the strategic assets transfer of tourism business unit from Etihad Airways to ADNEC Group.
Etihad Holidays will be acquired by ADNEC to expand its footprint in tourism. Etihad Holidays will integrate with Tourism 365, being the ADNEC tourism promotion business. The decision will further support the UAE’s tourism sector, given ADNEC’s extensive experience and capabilities across tourism industry.
Commenting on the announcement, Humaid Matar Al Dhaheri, Managing Director and Group CEO of the ADNEC, said, "ADNEC is proud to welcome this important business entity into its portfolio. We hold a long-term investor perspective in identifying and acquiring key assets in developed markets. This move will strengthen the Group’s competitiveness and will increase direct and indirect economic contributions to the UAE’s tourism sectors.
"This decision further reinforces our commitment to investment in growth opportunities which will deliver long term returns to the Group. ADNEC Group has wide-ranging experience in overseeing successful tourism and hospitality assets and will bring the same insights and strategic focus to ensure the continued success of this important entity.
Tourism 365 will operate Etihad Holidays, taking it from a platform focused on the local market to a fully-fledged tour operator supplying online and traditional travel agencies with Etihad network holiday packages from key source markets.
Capital Experience, Tourism 365’s destination management arm, will be the exclusive supplier of Etihad Holidays across the UAE when it comes to hotels, transfers and attractions. Etihad Holidays offering will combine Etihad Airways’ outstanding product with packages in different source markets to key destinations including Abu Dhabi, the wider UAE, Thailand, Seychelles, Maldives and many others.
Roula Jouny, Executive Director of Tourism 365, commented, "We are thrilled with this move. This new development solidifies our strategic role in strengthening Abu Dhabi’s position as a destination and bolstering the incredible efforts of the UAE’s wider tourism industry. This asset transfer will significantly expand Etihad Holidays’ presence in key source markets especially from a B2B tour operator standpoint."