Constellation Hotels Holding, a subsidiary of Qatar Holding LLC, has purchased The St. Regis, Rome from Starwood Hotels & Resorts Worldwide for GBP110 million (US $150.7 million).
The sale is part of Starwood’s asset-light strategy, although the company will continue to operate the hotel under the St. Regis brand as part of a new long-term management agreement.
Subject to obtaining the required administrative authorizations, Constellation will complete further renovations to the hotel, including upgrades to all 161 guestrooms and suites and a redesign of the restaurant and lounge.
“The St. Regis, Rome is an outstanding addition to our growing global portfolio of world-class assets in the world’s most desirable destinations,” said Constellation CEO Zaki El Guiziri.
Meanwhile, Constellation is currently working on a deal to purchase the Intercontinental Paris – Le Grand from IHG for US $442 million.
Earlier this week, Qatar Holding announced that it has agreed to pay $616 million (382.45 million pounds) for about one fifth of Lifestyle International Holdings (1212.HK), a department operator in Hong Kong and mainland China .
Qatar Holding (QH), is a global investment house established in 2006, founded by the Qatar Investment Authority , sovereign wealth fund, and licensed by the Qatar Financial Centre Authority (QFCA). QH invests internationally and locally in strategic private and public equity as well as in other direct investments.
The sale is part of Starwood’s asset-light strategy, although the company will continue to operate the hotel under the St. Regis brand as part of a new long-term management agreement.
Subject to obtaining the required administrative authorizations, Constellation will complete further renovations to the hotel, including upgrades to all 161 guestrooms and suites and a redesign of the restaurant and lounge.
“The St. Regis, Rome is an outstanding addition to our growing global portfolio of world-class assets in the world’s most desirable destinations,” said Constellation CEO Zaki El Guiziri.
Meanwhile, Constellation is currently working on a deal to purchase the Intercontinental Paris – Le Grand from IHG for US $442 million.
Earlier this week, Qatar Holding announced that it has agreed to pay $616 million (382.45 million pounds) for about one fifth of Lifestyle International Holdings (1212.HK), a department operator in Hong Kong and mainland China .
Qatar Holding (QH), is a global investment house established in 2006, founded by the Qatar Investment Authority , sovereign wealth fund, and licensed by the Qatar Financial Centre Authority (QFCA). QH invests internationally and locally in strategic private and public equity as well as in other direct investments.
Source:
Mubasher
