Qatar acquires five InterContinental Hotels in Europe
Katara Hospitality, a unit of Qatar Investment Authority (QIA), has acquired joint control of a group of luxury hotels in five European cities including the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental, Bloomberg has reported. The firm is also taking joint control of InterContinental hotels in Frankfurt, Madrid and Rome. The hotels are managed by and will continue to be jointly controlled by the InterContinental Hotels Group.
Katara’s international portfolio includes the Raffles Hotel Singapore, Le Royal Monceau – Raffles Paris, Schweizerhof HotelBern and Renaissance Sharm El Sheikh Golden View Beach Resort in Egypt.
International properties under development include Bürgenstock Resort Lake Lucerne (opening 2015), Royal Savoy Lausanne (opening 2014), Comoros Beach Resort (opening 2015), Tazi Palace Hotel Tangier (opening 2015), and a hospitality complex in Gambia (opening 2016).