Katara Hospitality denies reported plans to sell IHG-run hotels in Europe

InterContinental Amstel Amsterdam, the Netherlands. Photo credit: InterContinental Hotels Group(Image: InterContinental Hotels Group)

Katara Hospitality, Qatar Investment Authority's hotel unit, has denied a report from Bloomberg News stating that the company plans to sell two of its hotels in Europe operated by InterContinental Hotels Group. 

QIA hasn't hired brokers to sell the two properties in Cannes, France and Amsterdam, the Netherlands. The group also still hasn't made a final decision on the sale, people familiar with the issue told Bloomberg.

"There's no intention to sell any of these assets, and it's not even a topic that was discussed," Sheikh Nawaf bin Jassim bin Jabor Al Thani, chairman of Katara Hospitality, told Bloomberg.  

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

The investment fund acquired the InterContinental Amstel Amsterdam and the InterContinental Carlton Cannes in 2014 to expand within the luxury hotels market. Now, Katara Hospitality owns 21 hotels in Europe, including Le Royal Monceau, Raffles Paris, the Hotel Schweizerhof in Bern, Switzerland and The Westin Excelsior in Rome. The group also operates six hotels in the Middle East and Europe: The Avenue, A Murwab Hotel, Simaisma; Saraya Corniche Hotel and Grand Murwab City Center Hotel in Doha, Qatar; Sealine Beach, Murwab Resort in Mesaieed, Qatar; and Bürgenstock Resort Lake Lucerne in Switzerland. 

Katara's pipeline includes an additional two hotels in Doha: Katara Towers, Lusail Marina District opening in 2020 and the 216-room City Gate Hotel opening in 2018, as well as the Tazi Palace Hotel, Tangier in Morocco opening in 2020. Katara is also partnering with Minor Hotels to open three new hotels in Doha and Souq Al Wakra, Qatar in spring 2018. The hotels owned by Katara will operate under Minor's Tivoli and Oaks brands.

Suggested Articles

The partnership aims to help restaurants streamline online orders from apps like GrubHub, UberEats, DoorDash, Chownow, Caviar, Postmates and others.

Two conferences traditionally held in the first half of each year are rescheduling for the second half.

In October, visitor arrivals were down 90.4 percent compared to 2019 and hotel occupancy was below 20 percent.