The luxury hotels that Qatar Investment Authority is acquiring joint control in include the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental.
Qatar Investment Authority is acquiring joint control of a group of luxury hotels in five European cities including the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental.
The Qatari sovereign wealth fund’s Katara Hospitality unit is also taking joint control of InterContinental hotels in Frankfurt, Madrid and Rome, according to a notice on the website of the European Commission’s competition authority.
The hotels are managed by and will continue to be jointly controlled by the UK’s InterContinental Hotels Group.
Ghanim bin Saad, a former chief executive of Qatari Diar Real Estate Investment Co was looking for buyers for 7 European hotels, including Madrid’s Hotel InterContinental, newspaper Expansion reported last June, citing people with knowledge of matter.
Yesterday’s merger notice didn’t provide further details.