
MB Holding, the Oman based petrol company, announced on Tuesday that it will invest $258 million Oman's hospitality sector through the purchase of shares in a hotel chain.
MB Holding purchased a 53% share in Interior Hotels and currently has three projects in development. This $258 million investment will be spread out over four years.MB Holding's chairman, Dr Mohammed al Barwani, stated an objective to take the tourism branch of MB Holding public: “Our intention is to invest in the hotels arm and later on put it into a public vehicle. That’s why we acquired Interior Hotels and plan to use that as a public vehicle where we will merge the other businesses into it”.MB Holding's chairman, Dr Mohammed al Barwani, stated an objective to take the tourism branch of MB Holding public: “Our intention is to invest in the hotels arm and later on put it into a public vehicle. That’s why we acquired Interior Hotels and plan to use that as a public vehicle where we will merge the other businesses into it”.
