KATARA BUYS FIVE INTERCONTINENTALS IN EUROPE
Katara Hospitality has purchased five hotels in key European cities from a private investor for an undisclosed sum. The new additions to the Qatar-based group’s portfolio are the 343-room InterContinental Carlton Cannes, on the French Riviera; the 79-room InterContinental Amstel Amsterdam, in the Netherlands; the 302-room InterContinental Madrid, in Spain; the 467-room InterContinental Frankfurt, in southwestern Germany; and the leasehold interest in the 192-room InterContinental De La Ville Rome, in Italy. “We will look to commit investment funds for necessary renovations or refurbishments, as we do across our portfolio,” said Hamad Abdulla Al Mulla, Katara’s chief executive officer. “Our typical renovation strategy brings an iconic hotel back to its full glory, combining its rich heritage with all the modern facilities required in a 21st-century hotel,” he added.