FINANCIAL NEWS

Dubai’s Al Habtoor close to takeover a 5-star hotel in Budapest

28 Feb 2012

(MENAFN) Dubai-based Al Habtoor Group said it was close to finalize a USD80 million deal to acquire a 5-star hotel in the Hungarian Capital.

Khalaf Al Habtoor, chairman of the conglomerate, said the group was in the final stages of acquiring the hotel in Budapest, declining to name it, is in talks with officials in France to buy a second hotel in Paris.

The conglomerate, which has a portfolio spanning hospitality, construction and automotive operations, has been actively looking to acquire hospitality assets in Europe for some time, Al Habtoor said.

The group has also been contacted by French officials regarding the sale of a possibly 4-star hotel in Paris, he added.

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