Golden Sands Hotel Company Achieves Full Ownership of Salalah Beach Resort
In a recent business maneuver, Golden Sands Hotel Company has successfully acquired an additional 34.91% stake in Salalah Beach Resort, becoming the sole owner of the Oman-based hospitality entity. This strategic move, completed through compulsory acquisition and approved by the Capital Market Authority, solidifies Golden Sands Hotel Company’s position in the regional tourism sector. The acquisition, effective December 27, 2023, emphasizes the commitment to the growth and development of Salalah Beach Resort, known for operating the Hilton Salalah Resort. As part of the takeover strategy, Golden Sands Hotel Company plans to invest in renovations and facilities, aligning with its vision for the resort’s expansion. The delisting of Salalah Beach Resort shares from the Muscat Stock Exchange accompanies its transition into a closed joint-stock company.
