Qatar-based Al Rayyan Tourism and Investment (Artic) said it has acquired Boscolo Aleph Hotel, a luxury five-star property located in the centre of Rome, Italy.

Artic is the international hospitality subsidiary of Al Faisal Holding Company, one of Qatar's largest private diversified industry groups.

The company is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas.

With this acquisition, Artic said its luxury hotel portfolio has grown to 24 premium properties across Europe, the Middle East, Africa and North America.

This in line with the company's expansion strategy focused on high quality assets in prime City center and resort locations, said a senior official.

"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," remarked Sheikh Faisal Bin Qassim Al Thani, the chairman of Artic.

"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," he added.

Prestigiously located in the center of Rome, the 6,500 sq m hotel comprises 96 rooms and suites over six floors, a roof garden, spa and a range of hospitality and dining facilities.

Created in 2002 from a historic palace that housed the former offices of an illustrious credit house, now splendidly renovated, the hotel was designed by the famous architect Adam D.Tihany and is a winner of the Villegiature Awards for the best interior design in Europe.

Tarek M El Sayed, the executive board member of Artic, said: "The acquisition of the Boscolo Aleph Hotel underlines our investment focus on properties in the key cities of the world that meet our exacting standards for asset quality, location and architectural design."

"It marks another important step in Artic's international expansion, progressing from Mena region to Europe, and the US. We look forward to the further enhancement of our portfolio in future as we pursue our ambition to build one of the world's leading hotel investment groups," stated El Sayed.

CEO Rutger Smits said Artic was 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," he added.-TradeArabia News Service