Keyword: Qatar Investment Authority
The sale furthers the relationship between the Qatar Investment Authority and the luxury brand.
In spite of economic sanctions from neighboring countries, the state-run Qatar Investment Authority has acquired the Grosvenor House Hotel in London.
Katara Hospitality denied a report stating that the company plans to sell two of its hotels in Europe, both of which are operated by InterContinental Hotel Group.
Sheikh Hamad Bin Jassim Bin al-Thani, the new owner of the Plaza Hotel's mortgage, could use it to fund a potential bid for the New York property.
While Raffles breaks ground in Udaipur, Accor will team up with the Shrem Group to launch Mumbai's new Fairmont.
The hotel is the second property Ashkenazy has taken off the hands of the beleaguered Sahara Group.