Barrows Hotel Enterprises, a real estate company specialized in hotel investments throughout Africa and the Middle East, managing a portfolio of over 10,000 hotel rooms in more than 10 countries, plans to go public on the Nasdaq within the next 12 months.
The company intends to use the method of merging with a SPAC (Special Purpose Acquisition Company), at a value that could (according to its promoters) reach more than 500 million dollars.
The core business of Barrows Hotel Enterprises, based in Dubai, is the development and financing of hotel properties in Africa and the Middle East. In parallel, the company also provides advice to hotel owners and operators. In particular, it has entered into long-term partnerships with Russian, African and American investors during the COVID period.
According to Barrows' chairman, Erwin Jager, the capital that the company intends to raise through this SPAC will be used for investments and to make new acquisitions in the sector. The group has already recorded solid growth in recent years and wants to strengthen its market position in the coming years, while creating added value by using new technologies.