International Hotel Investments plc - Exit from Dubai Project

On 3 September 2021, International Hotel Investments plc announced that Corinthia Hotels Limited (which is a 100% subsidiary of IHI) and Dubai-based developer Meydan have agreed a settlement to exit from their respective positions of hotel operator and investor on a beachfront hotel and residential project in the Jumeirah Beach Residence area of Dubai following the project being taken over by new owners. Despite this development, IHI noted that it will shortly be announcing new hotel and mixed-use development projects in the Gulf region.