Mahindra Holidays & Resorts India Ltd. (MHRIL), on Friday, said it had picked up 49 per cent stake in Arabian Dreams Hotel Apartments LLC, a company that operates a hotel property in Dubai, for an undisclosed sum.
“MHRIL has subscribed to 49 per cent of the share capital of Arabian Dreams Hotel Apartments LLC, which operates the Arabian Dreams Hotel Apartments,” the company said in a statement.
This is the second addition the company has made in an international destination after Bangkok in November 2012, MHRIL said.
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Commenting on the development, MHRIL Chairman Arun Nanda said: “We are committed to expanding the choice of destinations for our members. Following through with our strategy of building where Indians love to go for vacation, we have now added Dubai to our footprint.”