Gulf Capital Completes Management Buy-Out of Destinations of the World (MENA)
Source: Gulf Capital
Middle East-focused alternative asset manager Gulf Capital has completed the acquisition of 100 percent of United Arab Emirates-based hospitality distributor Destinations of the World (DOTW) in partnership with the company’s senior management. DOTW secures hotel room inventory and sells bookings to its distribution network of travel agents, airlines and tour operators. Post-transaction, Gulf Capital will retain a 57.5 percent stake in the company, with the remainder held by management. Financial details of the the transaction, which was structured through Gulf Capital Equity Partners Fund II, were not disclosed.