QATARIS TAKE CONTROL OF LUXURY LONDON HOTELS
Constellation Hotels Group, privately owned group backed by the Qatari Holding, the private sovereign wealth fund backed by the Qatari royal family, has taken full control of three of London’s most iconic and luxurious hotels.
The deal sees Constellation acquire the 36% equity interest held by Paddy McKillen in the Maybourne Group (owner and operator of the Claridges, Connaught and Berkeley Hotels)
This follows on from the newscast last week that Constellation bought the other 63% interest from Coroin, with sellers’ Irish businessman Derek Quinlan, and brothers Barclay.
The two deals give the Qataris ownership in three iconic London assets. According to the latest agreement, Paddy McKillen will stay to lead, direct and develop these assets.