KATARA HOSPITALITY CONFIRMS ACQUISITION OF FIVE HOTEL PROPERTIES
Doha, Qatar 25 November 2014
Katara Hospitality, the Qatar-based global owner, developer and operator of iconic hotels, has today confirmed the acquisition of five properties in key European cities from a private investor.
The company 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 32 hotels operational or under development, topping its long-established goal of 30 properties by 2016.
His Excellency Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, Chairman of Katara Hospitality, said on the occasion: “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 the future.”
Chief Executive Officer and Board Member of Katara Hospitality, 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.”
Angela Brav, Chief Executive Officer Europe at InterContinental Hotels Group said: “We’re thrilled to be working with Katara Hospitality for the first time. With properties in more than 60 countries and over 180 hotels globally, InterContinental Hotels & Resorts is truly an international brand. We will continue to manage these five flagship hotels on their behalf and look forward to taking our partnership from strength to strength.”
The company now has properties or projects in 14 countries, with a total of 7,103 rooms operational or under development.
