Doha,
Qatar – 25 June 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.”
Hamad
Abdulla Al-Mulla, 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.