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Katara Hospitality Gets Two new Hotels in Doha

Katara Hospitality has reported the purchase of two luxury hotels in Doha. These are the properties previously owned by Barwa Real Estate. The hotels are Somerset West Bay Serviced Residences and Barwa Al Sadd Hotel and Recreation Building. The sum of the deal reached QR1.1bn.

The deal, which was signed by the chairmen of both companies, is a sale and purchase agreement. All formalities may be finished by the end of this month. The first hotel, Somerset Serviced Residences, is a building with 200 comfortable apartments perfect for a long stay. The total area of the building is 52,305 sq. m. and it has 25 floors, the ground floor and the basement. This hotel is managed by Ascott International, a Singapore-based company also known as one of the largest serviced apartment operators in the world. The second property, Barwa Al Sadd Hotel, is somewhat smaller as its total area exceeds 28,330 sq. m. and the building consists of 18 floors, the ground floor and two basements. The hotel is conveniently located in Suhaim Bin Hamad Street. This hotel is not opened yet, and so Badwa plans to finish the construction within next several months.

Katara Hospitality is a newly rebranded hotel company previously known as Qatar National Hotel. The company has chosen an aggressive acquisition strategy and plans to increase its portfolio significantly by purchasing properties in popular business and leisure destinations. Currently the company is the owner of five hotels in Qatar that work under famous international brands. These are The Ritz-Carlton hotel in Doha, Doha Marriott Hotel, Sharq Village & Spa, Movenpick Hotel in Doha, and Sheraton Doha Resort & Convention Hotel. The company also manages and owns one of the most popular leisure rest destinations in Qatar – Sealine Beach Resort.

23.06.2012

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