Shuaa Partners, the private equity arm of Dubai-based Shuaa Capital, has announced that it has completed the sale of its entire stake in Rotana Hotel Management Corp to Rotana chairman, Nasser Al Nowais. Shuaa Partners' Fund I made the investment in Rotana in 2006 through a private placement to fund the hotel company's expansion. Despite its exit, Shuaa said it has retained Rotana as the exclusive manager and operator of 4 and 5 star hotels, resorts, serviced apartments and budget business hotel properties to be developed in Saudi Arabia and in the MENA region by the Shuaa Saudi Hospitality Fund I and Shuaa Hospitality Fund I.