Al Rayyan Tourism Investment Company (ARTIC), an international hospitality subsidiary of Al Faisal Holding Company, purchased the St. Regis Washington, D.C. Mark Elliott and Rudy Reudelhuber of Hodges Ward Elliott advised the seller. Hodges Ward Elliott also advised ARTIC on the procurement of acquisition financing which was provided by Goldman Sachs.
The St. Regis Washington, D.C. is located two blocks north of the White House at the intersection of 16th and K Streets. The purchase of the 182-room luxury hotel also includes an adjacent parcel allowing for the development of approximately 22,000 additional square feet, zoned for hotel, office, most retail, parking and/or residential uses.
Established in 2003 as a wholly owned subsidiary of Al Faisal Holding Company, ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas. ARTIC’s portfolio comprises 32 hotels/serviced apartment properties in the Middle East and Africa, Europe and North America, where ARTIC owns the Radisson Blu Chicago, The St. Regis Bal Harbour and The Manhattan at Times Square. In addition to its hotel portfolio, ARTIC owns hospitality-related services providing cost-effective support services in a shared service model.