Dubai Mövenpick Hotel acquired by PE fund

June 3, 2014 2:29 am

A private-equity fund operated by Oman’s Bank Muscat has bought the 294-room Mövenpick Hotel at Dubai’s Jumeirah Beach Residence, Bloomberg has reported, citing three people with knowledge of the deal. The property, which opened in March 2010, had been owned by Dubai-based Faran.