Jun 29, 2012
US-based Starwood Capital has reportedly agreed to sell four hotels in France (part of the Concorde Hotels & Resorts chain) to Qatari hotel and resort owner, manager and developer Katara Hospitality for an undisclosed sum. The properties in question are the five-star, 409-room Hôtel Martinez in Cannes; the four-star, 950-room Hotel Concorde La Fayette in Paris; the five-star, 177-room Hôtel du Louvre, also in the French capital; and the five-star, 188-room Hotel Palais de la Méditerranée in Nice. Katara Hospitality is currently embarking on a grand expansion plan; the group aims to own 30 hotels and resort complexes in Qatar and internationally by 2016 and a further 30 over the following 14 years. Katara Hospitality was previously known as Qatar National Hotels. The group’s new name, Katara, is derived from the ancient name given to the Qatar peninsula around 150 AD by the Greek astronomer and cartologist Claudius Ptolemy.
