Qatar Scoops Up London Luxury Hotels
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You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.Qatar hasn’t taken a break with their massive purchases, after purchasing a 64% stake in the Maybourne Hotel Group that owns Claridge’s, The Berkley, and The Connaught. The three luxury London hotels were scooped up by Constellation Hotels (part of the Qatar Investment Authority), and its former owners couldn’t be happier; Sir David and Sir Frederick Barclay have been dealing with a four-year skirmish on purchasing their stake. The remaining 36% is owned by Irish businessman, Paddy McKillen. The price wasn’t disclosed, but rumor has it that Abu Dhabi offered £1.6 billion for the three hotels, though no official statements or developments were made on the matter.