Qatar’s armed forces buy Barcelona hotel for $107 million
Qatar is interested in making further investments in the Spanish city
The investment arm of the Qatari armed forces, the Qatar Armed Forces Investment Portfolio (QAFIP) bought the five-star Marriott Renaissance Barcelona hotel for $107mn, London-based newspaper The Guardian reported on Friday.
"We are very excited to add the Renaissance Barcelona Hotel to our portfolio and look forward to a long and successful partnership with Marriott International," Thani al-Kuwari, QAFIP director said.
“Our objective is to invest in the most important cities, and Barcelona is one of them. We are also looking for interests in London and Paris,” Kuwari added.
Qatar is interested in making further investments in the Spanish city, he added.
The hotel, located in central Barcelona, will continue to be run by Marriott, its previous owners.
Qatar already has a presence in the city due to its flagship carrier Qatar Airways sponsoring Barcelona Football Club.
Last summer, the club signed a three-season contract worth €96 million (CONVERT THIS TO U.S. DOLLARS) with the airline company.
-
Vodafone Qatar net loss narrows as customer base grows
Analysts polled by Reuters on average forecast Vodafone Qatar would make a quarterly loss of 72.7 million riyals Telecoms -
Qatar gets 14 days to send labor report to FIFA
The report will be presented by the FIFA to a hearing at the European Parliament in Brussels in February Sports -
Qatar in $1bn deal to buy Brazil oil stake from Shell
Shell says it is selling 23% stake in oil project to Qatar Petroleum International Energy -
Egypt will return $3bn to Qatar in 2014
Relations between Qatar and Egypt deteriorated after army-backed mass protests ousted Mursi in July Economy