RAK National Hotels Increases Portfolio with Acquisition of Marjan Island Resort & Spa

• Transaction marks the increase in RAKNH’s investment in Al Marjan Island, following the announcement of the group’s joint venture stake in the highly anticipated Wynn Resort Al Marjan
• Adds further diversification to RAKNH’s portfolio of brands and properties

Ras Al Khaimah, UAE – 29 August 2023: RAK National Hotels LLC (RAKNH), a subsidiary of RAK Hospitality Holding LLC (RAKHH), has added to its portfolio of hospitality and leisure assets the 300 key Marjan Island Resort & Spa from Manazil Group.

The acquisition adds further scale to RAKNH’s portfolio and underlines its investment on Al Marjan Island, especially following RAKHH’s announcement of the group’s joint venture stake in the highly anticipated Wynn Al Marjan Island.  The property is currently operated by Accor Group and will be rebranded as a Pullman, the company’s premium hotel brand.

Ras Al Khaimah’s tourism sector has been experiencing a major period of growth, with a multitude of new hotels, attractions and upgraded historical sites cementing the Emirate’s place as the go-to destination for adventure, relaxation and culture.

Alison Grinnell, CEO of RAK Hospitality Holding commented: “The acquisition of Marjan Island Resort & Spa underscores our continued investment in Ras Al Khaimah and recognizes the huge opportunities in the Emirate as it positions itself as an international leisure destination. The property is ideally located to capitalise on these opportunities, and working with our partner Accor, we believe we can transform the property into a unique destination for tourists.”

Abdul Mohsen Al Hammadi, Chairman and CEO of Manazil Group said: “After being one of the first properties to open on Al Marjan Island back in 2014, Marjan Island Resort & Spa became a stepping stone for our Group to enter into the hotel business and open four more hotels managed by Accor within the UAE, namely Movenpick, Novotel and Adagio in Jumeriah Village Triangle, and Pullman Sharjah.”

Paul Stevens, COO Premium, Midscale & Economy Division for Middle East & Africa at Accor said: “We are very pleased to continue our strategic partnership with RAK Hospitality Holding, a collaboration which embodies our commitment to delivering unparalleled guest experiences and fostering innovation within the hospitality industry. Together, we look forward to creating memorable moments for our valued guests visiting Ras Al Khaimah.”

Opened in 2014, the five-star Marjan Island Resort & Spa features 300 keys, 8 diverse dining options, a host of recreation activities, beach access, a comprehensive spa and unparalleled sea views. Situated on Al Marjan Island, this established staycation destination benefits from significant growth potential as the Emirate continues to roll out progressive development initiatives to increase tourism numbers.

About RAK Hospitality Holding (“RAKHH”)

RAK Hospitality Holding is an integrated hospitality and leisure company, owning, operating and asset managing a diverse portfolio of hotels, hospitality, and leisure assets. Its activities include hotel development and ownership; logistics and the provision of both hospitality accommodation and transportation; asset management and advisory; and development and operation of leisure and entertainment assets.

About Ras Al Khaimah

Ras Al Khaimah (RAK) is the northernmost of the seven Emirates that make up the United Arab Emirates. It is known for its diverse landscape, from 64km of beaches, to deserts and imposing mountains, as well as its rich history, dating back 7,000 years. It has many archaeological sites, four of which have been shortlisted on UNESCO’s tentative list of World Heritage Sites. The Emirate’s Jebel Jais mountain, which is the highest mountain in the UAE, boasts attractions including Jebel Jais Flight, the world’s longest zip line at almost 3km, and 1484 by Puro, the UAE’s highest restaurant. Ras Al Khaimah is centrally located at the modern crossroads between Europe, Asia and Africa, with one third of the world’s population within four hours’ flying time, making it an ideal location for businesses to expand into the UAE, the Middle East and Africa region and beyond. The Emirate boasts one of the most diverse economies in the region, with no single sector accounting for more than 30% of the Emirate’s GDP – a critical advantage that enhances Ras Al Khaimah’s economic flexibility and strength. Ras Al Khaimah has been rated in the ‘A’ range by Fitch and Standard & Poor’s international ratings agencies for 15 years. Ras Al Khaimah is a multicultural society, with a population of 0.4 million people in 2023. With year-round sunshine, straightforward business set-up and a competitive and affordable cost of living, Ras Al Khaimah is the informed choice for business, lifestyle and exploration.