The Sovereign fund of Qatar expressed its desire to acquire five European properties managed by InterContinental Hotels Group, including the InterContinental Carlton of Cannes.
Katara Hospitality wishes to acquire a portfolio of five European hotels managed by InterContinental Hotels Group, as expressed to the European Commission. The acquisition package includes the InterContinental Carlton in Cannes, the Amstel InterContinental in Amsterdam, and three other properties in Frankfurt, Madrid and Rome. The British IHG will continue to manage the portfolio.
The international portfolio of Katara Hospitality currently includes properties such as Raffles Hotel Singapore, the Royal Monceau Raffles Paris, the Schweizerhof Hotel Bern and the Renaissance Sharm El Sheikh Golden View Beach Resort in Egypt. The Qatari fund also owns the Excelsior Hotel Gallia in Milan, which will join the Luxury Collection of Starwood Hotels & Resorts in November 2014, when renovation is complete.
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