Abu Dhabi Fund Buys 31 Accor-Branded Hotels in Australian Cities | bloomberg.com
Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, bought Australia’s largest owner of hotels, Tourism Asset Holdings Ltd., gaining ownership of 31 properties in major cities. A subsidiary of the Abu Dhabi fund has signed a conditional contract to buy the closely held hotel owner, the Sydney-based company said in an e-mailed statement without disclosing a value. The hotels will continue to be operated by Paris-based Accor SA (AC), Tourism Asset Holdings said.
