The group is now largest independent owner of five-star hotels in Australia.
Dubai: Ghassan Aboud Group, the UAE-based global business conglomerate, has announced the acquisition of Vincent Hotel, formerly known as The Fantauzzo in Brisbane, Australia. This establishes the Group as Australia’s largest independent owner of five-star hotels and resorts. It is also one of the first major transactions in hospitality sector negotiated and concluded during the COVID-19 pandemic in Australia.
Vincent Hotel will add to the Crystalbrook Collection, a subsidiary company of Ghassan Aboud Group, which was founded by Ghassan Aboud as a hospitality management entity in 2016. Currently, the Group’s hospitality and real estate investments in strategic locations in Australia are valued at $1 billion, all of which are managed by Crystalbrook Collection.
Ghassan Aboud, founder of the Group, said that the Group plans to expand his business in several core sectors in the UAE including retail, automotive, e-commerce, and trade and distribution, adding that the nation provides an advanced infrastructure and facilities for foreign investors.