QATARI AC­QUI­SI­TION IN ROME

Qatar Today - - BUSINESS > REALTY CHECK -

Star­wood Ho­tels & Re­sorts World­wide has sold The Westin Ex­cel­sior Rome to Katara Hos­pi­tal­ity for $251 mil­lion.

The his­toric ho­tel will be ren­o­vated in the next five years, in­clud­ing a top-to-bot­tom trans­for­ma­tion of all gue­strooms, as well as up­grades to the ho­tel's pub­lic ar­eas, and con­tin­ues to be op­er­ated by Star­wood Ho­tels & Re­sorts un­der a new long-term man­age­ment agree­ment. Sheikh Nawaf bin Jas­sim bin Ja­bor Al Thani, Chair­man of Katara Hos­pi­tal­ity, signed the agree­ment for the new prop­erty with Michael Wale, Pres­i­dent - Europe, Africa, and Mid­dle East Star­wood Ho­tels & Re­sorts. The sign­ing cer­e­mony was held at The Westin Ex­cel­sior Rome and was at­tended by Ha­mad Ab­dulla Al Mulla, Chief Ex­ec­u­tive Of­fi­cer of Katara Hos­pi­tal­ity; Si­mon Turner, Pres­i­dent, Global De­vel­op­ment at Star­wood Ho­tels & Re­sorts; Robert Koren, VP Re­gional Di­rec­tor South­ern Europe at Star­wood Ho­tels & Re­sorts; and Ab­du­laziz bin Ah­mad Al Malki Al Je­hani, Qatar's Am­bas­sador to Italy.

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