Abu Dhabi-based Mubadala Development Co. has acquired 50 percent of Los Angeles-based Kor Hotel Group. With the deal, Kor's Tides and Viceroy brands will undergo an aggressive global expansion. As part of Mubadala's portfolio, Kor will increase its presence in the Middle East, North Africa and Asia, with business and resort developments planned to open in Abu Dhabi by 2012.
Did you enjoy this article? Click here to subscribe to the magazine.