One of the most prestigious hotels in Rome passes into Arab hands. Katara Hospitality has acquired the Westin Excelsior from Starwood Hotels & Resorts for 222 million euros. The old hotel, opened in 1906 in the heart of the capital, will undergo a complex restructuring plan over the course of 5 years. Management will remain with Starwood.
Italy is a "very promising market" in which Qatar intends to continue investing, as demonstrated by the initiatives carried out recently in Sicily and Lombardy. Thus commented the operation Shekh Nawaf Bin Jassim Al-Thani, president of Katara Hospitality. A new sign of Doha's interest in the hotel sector in Italy, where it has already invested around 800 million euros in various projects. Among these, the acquisition and renovation of the Excelsior Hotel Gallia in Milan, a historic hotel built in 1932.
“With this agreement we reach the share of three properties in Italy – continued the sheikh -. The Westin Excelsior Rome epitomizes everything Katara Hospitality looks for in a hotel. The majestic appearance of the hotel is the excellence of the luxury hotel industry. The hotel is welcome to our ever-expanding global portfolio of iconic properties and we look forward to continuing to set the standard for luxury hospitality around the world.”
With the acquisition of Westin Excelsion, Katara Hospitality's portfolio reaches a total of 35 active or under development properties and marks its third property in Italy.
