Action Hotels (AHCG) has received further endorsement from the family of executive chairman Sheikh Murbarak Al-Sabah. His mother Sheikha Soud Al-Sabah has spent just shy of half a million pounds on 858,911 shares in the company to take the family's combined holding up to 66.4 per cent. This follows share purchases by both the chairman and his wife earlier this month.
Recently the group, which develops and owns branded mid-range hotels in the middle east, has been expanding its portfolio with the announcement that it will be opening its first hotel in Dubai. The 220 room hotel will be Novotel branded and situated in the highly sought after location of Dubai Healthcare City - conveniently owned in a 50:50 joint venture by Action Hotels and Sheikh Al-Sabah. Construction on the project is expected to begin imminently and completed by the end of 2017.