Mubasher: Katara Hospitality, Qatar's leading hospitality organisation, announced that it is planning to expand its global portfolio by acquiring US Plaza Hotel.
The step is the first of its kind concerning expansion in the US.
The new transaction enhances the company’s portfolio, increasing its local and international hotels to 39, according to Katara’s latest statement.
It also improves the company’s investments in the real estate market by attracting long-term investments.
Located in Midtown Manhattan, the Plaza Hotel is one of the US historic hotels, and it was opened in 1907, managed by Fairmont Hotels and Resorts.
It is worth noting that Katara targets acquiring 60 local and international properties by 2026.
Katara did not give further details concerning the acquisition’s total cost.
