Barrows Hotel Enterprises
DUBAI, United Arab Emirates, Nov. 08, 2021 (GLOBE NEWSWIRE) — Barrows, the provider of hotel investment and advisory services for hotels in the Middle East and Africa is considering going public by a merger within twelve months. The company is therefore considering using a SPAC Merger structure to list on the Nasdaq.
With a SPAC Merger, Barrows could be worth over $500 million. The company has become known for property development and providing financing of hotel real estate in the Middle East and Africa. The company also provides corporate advice for hotel owners and hotel operators. During the Covid-19 Pandemic, Barrows closed long-term partnerships with investors from Russia, Africa and the United States.
The capital that Barrows should raise with the merger will be used for in-depth investments and making acquisitions within the industry, according to Barrows Chairman Erwin Jager. Barrows has grown rapidly in recent years and wants to increase further its market position in the coming years. The Hotel Industry is growing rapidly and with Barrows we can add value in many ways and with new technologies.
Barrows Hotel Enterprises internationally manages over 10,000 hotel rooms in more than 10 countries. The company started in 2008 as a real estate investor in the residential market in Dubai. Since 2012, Barrows has changed its strategy and the company is fully focused on the fast-growing hotel industry in the Middle East. Since 2020 Barrows is active in the African Continent.
For more information:
A photo accompanying this announcement is available at https://www.globenewswire.com/