9/24/2008

Kor Hotel Group has sold a 50% stake in itself to Mubadala Development Co., an investment arm of the government of Abu Dhabi, United Arab Emirates, for an undisclosed price. Kor hotels are operated mainly under the Viceroy and Tides brands, and the Mubadala purchase will allow the private hotel-management company to work toward its goal of more than doubling in size by 2011.

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