Al Rayyan Tourism and Investment (ARTIC), the international hospitality subsidiary of Al Faisal Holding Company, one of Qatar's largest private diversified industry groups, has today announced the signing of two purchase agreements on the Grand Hyatt Hotel and the Maritim Hotel, Berlin, Germany with SEB Asset Management's open-ended real estate fund SEB ImmoInvest.
The Grand Hyatt Berlin hotel is a five star modern, grand hotel located in Potsdamer Platz in the heart of the city. The luxury hotel features stunning architecture of Spanish architect José Rafael Moneo, spectacular interior design and contemporary art.
The design hotel features 342 luxury hotel rooms and suites and is perfectly located in the Berlin Mitte district with Tiergarten Park, the Reichstag and the Brandenburg Gate, all within easy walking distance. Directly opposite the Grand Hyatt Berlin hotel is the Philharmonic Hall with the Culture Forum.
The Maritim Hotel Berlin, which was opened in 2005, is located centrally in the Diplomatic Quarter in Berlin's Tiergarten district, between Kurfürstendamm and the Brandenburg Gate. The Hotel offers 505 rooms and event facilities for up to 5,500 people in 49 rooms. The Hotel was designed by renowned architect Jan Kleihues in 1930s art deco style.
These two acquisitions are a further step towards realizing ARTIC's vision of increasing its investments in the hospitality sector and accumulating an impressive portfolio of hotels in prime cities around the world.
With this agreement, the Company's portfolio of hotels either in operation or under development has reached 25 properties, located across the Middle East and North Africa, Europe and North America. Last year, ARTIC acquired the Radisson Blu Aqua Hotel in Chicago.
A wholly owned Al Faisal Holding Company subsidiary, ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas, in line with Al Faisal Holding's strategy for the growth of its domestic and international hospitality business.
H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, said: "We are delighted with the acquisition of the Grand Hyatt Hotel and the Maritim Hotel in Berlin.
"These two iconic hotels with their unique architectural qualities and prime, city center locations reflect our clear investment focus on high quality assets and bring us a step closer to our target. We will continue to build our portfolio locally and internationally and I look forward to further expansion all around the world over the coming years."
Source: Citigate Dewe Rogerson