Qatar's Al Rayyan buys St Regis unit in US

02/07/2015 03:19 AST

Al Rayyan Tourism Investment Company (Artic), an international hotel investment and hospitality subsidiary of Qatar-based Al Faisal Holding Company, has acquired the popular St Regis Washington, DC (US).

The new acquisition adds to the group’s portfolio of 24 premium hotels in the Mena, Europe and the US.

A premier luxury hotel in the US capital, the St. Regis Washington, DC couples classic elegance with modern amenities, offering luxury rooms and suites, complete with flawless furnishings, state-of-the-art technology and gracious residential touches.

The property, which also comprises an adjacent 22,000 sq ft parcel with significant development potential, will continue to fly the flag of St. Regis reflecting Artic’s success in partnering with world-class hotel operators.

Sheikh Faisal Bin Qassim Al Thani, chairman of Artic, said: “I am particularly pleased with this acquisition; St. Regis Washington D.C. fits perfectly with our expansion strategy and investment criteria; it has an extraordinary location, superb asset quality and beautiful architecture. Artic is taking significant strides towards achieving its objective of building a portfolio of iconic hotels in all of the major cities around the world.”

“This is our fourth landmark hotel property in the US, where we are present in Chicago, Miami, New York and now Washington DC. This latest acquisition further underlines our success in creating one of the leading international hospitality investment companies as we build on our strong Qatari base and I look forward to continuing to enhance the ARTIC portfolio in line with the Company’s medium-term plans for a flotation on one of the international stock exchanges,” he said.

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