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Claridges..major stake owned by Qatari hospitality group

Qatari group takes major stake in three London hotels

LONDON, April 26, 2015

Qatar-based Constellation Hotels has bought a majority stake in three of London’s most prestigious hotels following a ground-breaking deal.

Owned by Qatar Holding - the region’s sovereign wealth fund - the hospitality group bought a 64 per cent stake in Coroin, the holding company which owns the Maybourne Hotel Group that manages Claridge's, The Berkeley and The Connaught, said a report in The Telegraph.

The value of the transaction, which was closed by the family interests of Sir David and Sir Frederick Barclay, and Irish businessman Derek Quinlan, has not been disclosed, the report said.

Constellation Hotels has become a major investor in the luxury hotel market in recent years, with recent investments in the Intercontinental London Park Lane in 2013 and Le Grand Hotel in Paris last year.




Tags: Qatar | UK | Constellation Hotels |

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