Qatari Constellation Hotel Holdings buys 80 percent stake in New York Hotel

21 Dec 2013

(MENAFN) Qatar “based Constellation Hotel Holdings is to acquire 80 percent of a joint venture with InterContinental Hotels Group (IHG) to own and renovate a New York Hotel, Arabian Business reported.

Constellation Barclay Holding US, an affiliate of the Qatari investor, paid USD240 million for the stake in the InterContinental New York Barclay.

A statement by IHG said: “Constellation Barclay Holding US, and IHG have agreed to invest through the joint venture in a significant refurbishment, repositioning and extension of the hotel.”

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