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Katara Hospitality has acquired five prime properties in key European cities from a private investor. |
The Qatar-based global owner, developer and operator of iconic hotels has acquired the InterContinental Carlton Cannes, the InterContinental Amstel Amsterdam, the InterContinental Madrid, the InterContinental Frankfurt, and the leasehold interest in the InterContinental De La Ville Rome.
The acquisition brings Katara Hospitality’s global portfolio to some 32 hotels operational or under development, topping its long-established goal of 30 properties by 2016.
Katara Hospitality chairman Sheikh Nawaf bin Jassim bin Jabor al-Thani said: “We are delighted to be able to add these five hotels to our portfolio of iconic properties across the world. This deal provides a major expansion of our footprint, both geographically and in terms of our hotel operator partners.
“We are pleased to welcome the InterContinental brand into our current portfolio of partners and we look forward to extending our relationship in future.”
Katara Hospitality chief executive officer and board member Hamad Abdulla al-Mulla said: “We will look to commit investment funds for necessary renovations or refurbishments, as we do across our portfolio. Our typical renovation strategy brings an iconic hotel back to its full glory, combining its rich heritage with all the modern facilities required in a 21st century hotel.”
The company now has properties or projects in 14 countries, with a total of 7,103 rooms operational or under development.
Katara Hospitality currently owns properties spread across three continents, in Qatar, Singapore, The Maldives, Switzerland, France, Italy, Egypt, Morocco, Gambia and Comoros. While partnering with some of the finest hotel operators, Katara Hospitality also owns its own operator brands: The Bürgenstock Selection and Merweb Hotels.
Katara Hospitality has set a target of owning and / or managing 30 hotels by 2016 and 30 more over the following decade. Aiming to become one of the leading hospitality organisations in the world, the company is supporting Qatar’s long-term economic vision.
