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Zabeel buys Vegas hotel

Dubai-based, Zabeel Investments has taken a strategic step in to the hospitality sector, through the acquisition of a fifty percent stake in leading US hospitality development and management company, The Light Group.This partnership marks the first foray into the US market by the fast-growing and dynamic investment house. The partnership unites the experience and innovation of the Las Vegas-based Light Group with the ambition and expertise of Dubai-based Zabeel Investments, delivering a distinct offering to both the US and UAE hospitality and entertainment sectors.

The partnership continues the existing relationship between Dubai and CityCenter in Las Vegas where the Light Group will manage The Harmon Hotel, Spa & Residences, a property owned and under development by CityCenter Holdings, LLC, a joint venture of MGM MIRAGE and Dubai World.