Dubai buys stake in luxury hotel manager Kerzner - Sol Kerzner steps down as Chairman | reuters.com

Investment Corp of Dubai (ICD), the emirate's sovereign wealth fund, has bought a stake in global hotel management firm Kerzner International KZL.UL from investors including the family of South African casino tycoon Sol Kerzner. The deal gives Dubai, which depends heavily on its booming tourism industry, control of a second major luxury hotel firm. The first firm, Jumeirah Group, is owned by Dubai's ruler.