Qatar based group acquires St Regis Bal Harbour in Miami for US$213m
Al Rayyan Tourism Investment Company (ARTIC), the international hospitality subsidiary of Al Faisal Holding Company, one of Qatar’s largest private diversified industry groups, bought the St Regis Bal Harbour Resort from Starwood Hotels & Resorts Worldwide. The property will maintain its name and continue to be managed under a long-term agreement by Starwood Hotels.
Located near Miami’s vibrant South Beach, the 27-story oceanfront property features 207 rooms and suites, as well as private residences and condo-hotel units. ARTIC already owns more than 25 hotels in the Middle East, North Africa, Europe and North America. “We are proud to add this iconic resort to our growing property portfolio; the St. Regis brand represents a symbol of uncompromising elegance and bespoke service,” ARTIC chairman Sheikh Faisal Bin Qassim Al Thani said.