DOHA: Al Rayyan Tourism Investment Company (Artic), the international hospitality subsidiary of Al Faisal Holding Company, yesterday signed purchase agreements on the Grand Hyatt Hotel and the Maritim Hotel in Berlin, Germany, with SEB Asset Management's open-ended real estate fund SEB ImmoInvest.
The Grand Hyatt Berlin Hotel is a five-star hotel in Potsdamer Platz in the heart of the city.
The luxury hotel features stunning work of Spanish architect José Rafael Moneo, spectacular interior design and contemporary art.
It has 342 luxury rooms and suites and is located in the Berlin Mitte district, with Tiergarten Park, the Reichstag and the Brandenburg Gate, all within walking distance.
Directly opposite the Grand Hyatt Berlin hotel is the Philharmonic Hall, with the Culture Forum.
The Maritim Hotel Berlin, opened in 2005, is located centrally in the Diplomatic Quarter in Berlin's Tiergarten district, between Kurfürstendamm and the Brandenburg Gate. It 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 realising Artic's vision of increasing its investment 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 in operation or under development has reached 25 properties 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 focus on the hospitality sector and hospitality-related services in Qatar and overseas.
"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 centre 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," said Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding.
© The Peninsula 2013
