A Qatari-owned firm has acquired a 50 per cent stake in London's legendary Savoy Hotel,  historic five-star hotel in the UK.

Katara Hospitality purchased its share of the hotel, formally known as Fairmont Hotel the Savoy, from Lloyds Banking Group, said Kingdom Holding Company (KHC) in a report in the Daily Mail.

KHC, 95 per cent owned by Saudi billionaire Prince Alwaleed bin Talal, owns the other 50 per cent of the Savoy.

The transaction further solidifies the strategic partnership between Alwaleed and the Qatari government through KHC, the Saudi firm said in the report.

The Savoy, built in 1889, was London's first luxury hotel and became home to Hollywood stars including Charlie Chaplin and Frank Sinatra.

It was also where Queen Elizabeth II, then a young princess, was first seen in public with her future husband, Philip.

Then-prime minister Winston Churchill held meetings at the hotel's Savoy Grill during World War II.

Alwaleed's diversified KHC also has investments in other luxury hotels including The Plaza, New York, and George V in Paris. – TradeArabia News Service