The highest positive return on third trading day can be possibly interpreted as an explanation of an inherent DOTW
effect existent in the full sample of this study.
5 per cent stake, with the balance held by DOTW management.
Dr Karim El Solh, chief executive officer of Gulf Capital, said: "The accommodation wholesale sector is the fastest-growing segment of the global travel market and DOTW has a solid track record of driving top-line growth and achieving significant scale economies.
Keith Fernandez, group founder and chief executive officer of DOTW, said: "We are excited to partner with Gulf Capital.
The accommodation wholesale sector is the fastest growing segment of the global travel market and DOTW has a solid track record of driving top-line growth and achieving significant scale economies.
Keith Fernandez, group founder and CEO of DOTW, said: "We are excited to partner with Gulf Capital.
operates an asset-light business model with opex-funded growth, high operating leverage and a negative cash cycle.
It further complements both companies' individual expansion plans which include DOTW distribution increasing to more than 450,000 points of sale by the second quarter of 2011 and Jumeirah Hotels and Resorts increasing its worldwide portfolio, with eight new luxury properties expected to open in 2011, including hotels in Dubai, Abu Dhabi, Kuwait, the Maldives, Shanghai and Frankfurt, Germany.
DOTW has been selling Jumeirah Hotels and Resorts since its first hotel opening and over the years have commonly experienced our customer demand outstripping our directly contracted supply," said Keith Fernandez, the group managing director of DOTW.
This agreement will allow DOTW to pull dynamic rates and inventory directly from Carlson Rezidor reservation system thereby increasing availability and adding incremental growth to the hotel groups business.
DOTW group managing director Keith Fernandez said the partnership would provide customers with "seamless access to another renowned hotel operator and its wide-ranging offering of hotels globally as well as the best available rates".
group managing director Keith Fernandez was also delighted with the signing.