Wed, Jul 1, 2015

Hotels & Resorts
Qataris buy St Regis Washington

A Qatari hotel investor has acquired the popular St Regis Washington, DC, a premier luxury property in the US capital.

The acquisition by Al Rayyan Tourism Investment Company (ARTIC), a subsidiary of Al Faisal Holding Company, adds to the group’s portfolio of 24 premium hotels across the Middle East and North Africa (Mena), Europe and the US.

The St Regis Washington, DC couples classic elegance with modern amenities, offering luxury rooms and suites, complete with flawless furnishings, state-of-the-art technology and gracious residential touches.

The property, which also comprises an adjacent 22,000-sq-ft parcel with significant development potential, will continue to fly the flag of St Regis reflecting ARTIC’s success in partnering with world-class hotel operators.

ARTIC Chairman Sheikh Faisal bin Qassim Al Thani says: “I am particularly pleased with this acquisition; St. Regis Washington, DC fits perfectly with our expansion strategy and investment criteria; it has an extraordinary location, superb asset quality and beautiful architecture. ARTIC is taking significant strides towards achieving its objective of building a portfolio of iconic hotels in all of the major cities around the world.”

“This is our fourth landmark hotel property in the US, where we are present in Chicago, Miami, New York and now Washington DC. This latest acquisition further underlines our success in creating one of the leading international hospitality investment companies as we build on our strong Qatari base and I look forward to continuing to enhance the ARTIC portfolio in line with the company’s medium-term plans for a flotation on one of the international stock exchanges.”

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