Arab Today, arab today al faisalcompany acquires london\s w hotel
Last Updated : GMT 01:44:06
Arab Today, arab today
Arab Today, arab today

Al Faisal company acquires London\'s W hotel

Arab Today, arab today

Arab Today, arab today Al Faisal  company acquires London\'s W hotel

Doha - Qna

Al Faisal Holding Company LLC, one of Qatar’s largest private diversified industry groups, through its subsidiary Al Rayan Tourism & Investment Company (\"ARTIC\"), has exchanged contracts with NorthernIrish developer McAleer & Rushe to acquire the W London Hotel, Leicester Square for close to 200 million pounds, making this one of the most prestigious hotel transactions of the year. Launched in January 2011, the Starwood- operated state-of-the art 192 bedroom hotel is on the corner of Leicester Square, the internationally famous and highly popular pedestrianisedsquare of London’s West end. In addition to the hotel, the ten-storey, 90 ft glazed building housesone of the most exclusive branded apartment schemes in London, featuring 11 luxury duplex branded W Residencies. The development is also home toMars’ 35,000 sq. ft. M&M’s World store, the first in Europe. Awholly-owned Al Faisal Holding Company LLCsubsidiary, ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas. The acquisition of the W in London brings itscurrent hotel portfolio to 11 properties located across Qatar, Egypt and London, comprising seven fully operational hotels and four under development. Commenting on the announcement, HE Chairman of Al Faisal Holding Company Sheikh Faisal Bin Qassim Al Thani said: \"We are delighted to have acquired this iconic landmark London development. Given its one-of-a-kind architectural quality, attractive settingand the strength of the international covenants ofStarwood Hotels & Resorts Worldwide and Mars Retail Group, the addition of the W Hotel to the portfolio reflects our clear investment focus on high quality assets inprime locations as we continue to grow the business both locally and internationally.\" The impressive acquisition testifies to the strong presence in Qatar and abroad of Sheikh Faisal Bin Qassim Al Thani, one of Qatar’s leading businessmen, and his mega- conglomerate, Al Faisal Holding Company. With numerous other significant investmentsand interests, Al Faisal Holding Company is one of Qatar’s most prominent businesses.

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