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FINANCIAL NEWS
Qatar reported to own Starwood hotels in Paris for USD940m
24 Jun 2012
(MENAFN) Qatar recently added another valuable asset to its European portfolio as it inked a deal to buy four luxury hotels from US investment group Starwood for a total of USD40 million, local media reported.
Le Figaro newspaper said that the top Gulf LNG exporter was looking to add Le Martinez, one of France’s most prestigious hotels on the Cote d’Azur, to its collection of hotels in France including the Royal Monceau hotel in Paris and the Carlton in Cannes.
Qatar went on a spending spree in Europe, especially in France,in the past few years investing in several sectors industry, luxury, media, real estate and sport.
The three other hotels are the Concorde Lafayette, l’Hotel du Louvre in Paris, and Le Palais de la Mediterranee in Nice, Le Figaro said.
Qatar has bought Paris Saint Germain football club, a 13 percent stake in French media-to-aerospace conglomerate Lagardere, and a stake in Total.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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