Qatari group reportedly buying four French luxury hotels
UPDATE: Qatar is also buying the building that houses the headquarters of France’s main right-wing paper, Le Figaro, and some offices of the US embassy, according to news reports.
The paper did not appear to know that a Qatari investor was buying the building that houses its own offices.
A Qatar investment group is buying four luxury hotels from the American Starwood Capital group, Agence France Press reports.
According to once unnamed AFP source, Katara Hospitality will soon be the new owners of the Martinez, Concorde Lafayette, Hotel du Louvre and the Palais de la Mediterranee in Nice. Katara Hospitality already owns the upcoming Peninsula Paris hotel.
The acquisitions, expected to be finalized on Thursday, would also further expand Qatari ownership of French properties, which include popular French football club Paris St. Germain and the Virgin-Monoprix building on the Champs Elysees.
Credit: Photo by Amelien Bayle