Qatar's Al Rayyan Tourism and Investment (ARTIC) has acquired the luxury Boscolo Aleph Hotel in Rome. The hotel is ARTIC's latest hotel acquisition, growing its portfolio to 24 properties across Europe, the Middle East, Africa and North America. A purchase price was not disclosed.
Earlier this month, ARTIC acquired 97 percent of The Manhattan at Times Square Hotel in New York.
The company, which is the international hospitality subsidiary of Al Faisal Holding Company, said the Rome acquisition is part of its expansion strategy, "focused on high quality assets in prime city centre and resort locations," as Hotelier Middle East reports.
The Boscolo Aleph is less than a mile from Via Veneto, and includes 96 rooms and suites over six floors, a roof garden, spa and dining.
Sheikh Faisal Bin Qassim Al Thani, chairman of ARTIC, said: "With its exquisite architectural design, historical value and prime location, the Aleph hotel is a perfect fit with our long term investment strategy and is a valuable addition to our portfolio which also expands our European footprint to Rome, one of Europe's and the world's leading luxury tourist destinations. We will continue to enhance ARTIC's portfolio of premium hotels in line with the company's medium-term plans for a flotation on one of the international stock exchanges."
Rutger Smits, CEO of ARTIC, added: "ARTIC is a fast growing global hospitality company with long term investment outlook. The Aleph Hotel has many appealing characteristics which make it an attractive investment opportunity and destination for both tourists and business travellers."