02.04.2013 - Qatari investment fund pays GBP400mln for Park Lane hotel
The gas and oil wealth of Qatar has been used to snap up another UK asset after the emirate bought the InterContinental London Park Lane hotel in a 400m deal. Constellation Hotels, part of the Qatar Holding investment vehicle that has invested in Sainsbury's and Barclays, has paid 301.5m for InterContinental Hotel Group's 57-year lease on the 447-bedroom property close to Hyde Park, the company announced on Thursday. In a separate 100m deal it also acquired the freehold from the Crown Estate, the property company that controls the assets of the Queen...............................................Full Article: Source
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