Abu Dhabi Development Holding Company invests EUR 100m into FTI Group

Abu Dhabi Development Holding Company invests EUR 100m into FTI Group
Abu Dhabi welcomed 3.8 million hotel guests, a 2.9% increase compared to last year
Published: 17 December 2019 - 6:30 a.m.
By: Josh Corder

Abu Dhabi Development Holding Company (ADDH) has injected EUR 100m (AED 409.2m) into European tour operator FTI Group. The partnership is hoped to boost the emirate’s European tourism.

The collaboration between the two will focus on increasing visitors from Europe to Abu Dhabi. These markets will include the UK, France and Germany.

With the injection, FTI Group will improve its international business outreach, tour operation, distribution, content and destinations management.

In the first nine months of 2019, Abu Dhabi welcomed 3.8 million hotel guests, a 2.9% increase compared to last year according to the Department of Culture and Tourism. Hotel occupancy also rose by 4% to 59% this year, with average length of stay growing by 5.6%.

FTI Group is currently the third largest tour operator in Europe. In 2010, the group established Meeting Point Tourism LLC in the UAE.

ADDH’s CEO, Mohamed Al Suwaidi said: “Our strategic partnership with FTI Group reflects our wider commitment, in alignment with the Abu Dhabi Government, to support the Emirate’s ambition in the tourism sector. The collaboration will not only create many opportunities to enhance Abu Dhabi’s sustainable tourism sector, but it aligns with our mandate to further develop sectors of Abu Dhabi’s non-oil economy.”

“FTI Group is already recognised as a key player in Europe’s tourism industry and with access to a passenger base of more than seven million people, I am confident that our agreement will significantly boost the number of tourists arriving from key European source markets to Abu Dhabi,” Al Suwaidi concluded.

FTI Group’s CEO, Dietmar Gunz continued: “As a tour operator with a global footprint and an operational presence in the UAE for almost a decade, we are proud to sign an agreement with ADDH, one of the Emirate’s largest holding companies, to further showcase the best of Abu Dhabi’s expansive tourism offerings to our customers.”

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