Alpha Dhabi Looks to Hospitality to Grow Abroad as Overseas Revenue Hits Dh7.7 Billion

That figure is more than 13 per cent of the company's total revenue, according to the report. Alpha Dhabi, part of Abu Dhabi's International Holding Company (IHC), manages more than 250 public and private investments across 45 countries.

Derek Nicholson, Alpha Dhabi's chief investment and strategy officer, told The National on Tuesday that hospitality is an area where the group can grow internationally, but that it would stay selective. The company looks for opportunities that build on its existing capabilities and is "not here just to expand, for its own sake," he said.

An Owner-Investor Model

Alpha Dhabi has two hospitality businesses: National Corporation for Tourism and Hotels, and ADMO Lifestyle. ADMO expanded into Egypt by acquiring the Nammos brand. Nicholson described the Egypt venture as a model in which Alpha Dhabi deploys the capital and owns the intellectual property, and said it had given the group diversification and a template for growing abroad.

The comments followed the company's nine-month results. Net profit attributable to owners rose nearly 41 per cent year on year to Dh7.78 billion for the period ended September 30, while revenue grew 6 per cent to about Dh58.3 billion, The National reported.

Indirect Exposure to AI Leaders

Last week Alpha Dhabi said it had agreed to commit $1 billion to Alpha Wave III, a fund managed by New York-based Alpha Wave Global, to invest in AI companies around the world. Alpha Wave Global's holdings include OpenAI, Anthropic and Elon Musk's SpaceX, so the commitment gives Alpha Dhabi indirect exposure to some of the most valuable private technology companies.

Nicholson called the fund a long-term investment theme. "We see multi-trillion dollar investment over the next three to five years, and this is a theme where we think there are still opportunities to find best in class companies that are leaders in the sector," he said.

The group has also been adding to its financial-services exposure. In August it doubled its shareholding and capital commitment in its private credit joint venture with Mubadala Investment Company, Abu Dhabi's sovereign wealth fund.

Why It Matters

Alpha Dhabi's mix of hotels, private credit and AI fund commitments reflects a wider pattern among Abu Dhabi investment groups: spreading capital across sectors and regions, while taking positions in leading AI companies through specialist managers rather than direct stakes. With Anthropic preparing to list and private AI valuations rising, the $1 billion Alpha Wave commitment means the group will gain or lose from AI valuations without having to pick individual companies.