Qatar’s Katara Hospitality Goes On InterCon Buying Spree

Qatar-based Katara Hospitality has bought five flagship InterContinental properties in key European cities from a private investor. The value of the deals were not disclosed.

They include the InterContinental Carlton Cannes, InterContinental Amstel Amsterdam (pictured), InterContinental Madrid, InterContinental Frankfurt, and leasehold interest in the InterContinental De La Ville Rome.

The acquisition brings Katara Hospitality’s global portfolio to 32 hotels operational or under development, exceeding its original target of 30 properties by 2016.

Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, chairman of Katara Hospitality, said: “This deal provides a major expansion of our footprint, both geographically and in terms of our hotel operator partners. We are pleased to welcome the InterContinental brand into our current portfolio of partners and we look forward to extending our relationship in the future.”

Hamad Abdulla Al-Mulla, CEO and board member of Katara Hospitality, said it will commit funds for necessary renovations or refurbishments in order to bring hotels back to their “full glory”.