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FINANCIAL NEWS
UAE- Al Habtoor acquires Le Meridien Budapest
08 May 2012
(MENAFN) Chairman of the UAE-based Al Habtoor Group, Khalaf Al Habtoor, announced that the conglomerate was able to close a deal for acquiring Le Meridien Budapest, based in Hungary, reported Arabian Business.
Although the worth of the deal was not disclosed, previous statements of Al Habtoor confirmed the conglomerate’s negotiations to buy a hotel in Europe for USD80 million.
It is worth mentioning that Al Habtoor had been recently active and involved in several deals such as opening three Starwood Hotels and Resorts in Dubai, in addition to demolishing Dubai’s Metropolitan and redevelop itsarea into a tourism complex.
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