Property

Qatar boosts London portfolio with stake in Claridge’s, Berkeley and Connaught hotels

The Gulf state’s Constellation Hotels buys 64 per cent of hotel company Coroin, which owns several five-star hotels

PHOTO: Qatar’s property portfolio now includes Claridges, the iconic five-star hotel in Mayfair, London. Credit: Shutterstock

Qatar has bought majority stakes in three luxury London hotels, in a further sign of its expanding property investments in the UK capital.

The Gulf state’s Constellation Hotels reportedly bought 64 per cent of the hotel company Coroin, which owns five-star hotels including Claridge’s, Berkeley and The Connaught.

READ MORE: Middle East buyers targeted in London Grosvenor House sale

It purchased the stake from the billionaire brothers Sir David and Sir Frederick Barclay, best known as proprietors of the Telegraph newspaper titles.

The move is the latest in a string of London investments by Qatar. It already owns several landmark buildings including The Shard skyscraper – the city’s tallest – the Park Lane Hotel, along with the luxury department store Harrods and co-ownership of the Canary Wharf financial district.

READ MORE: Middle East buyers targeted in London Grosvenor House sale

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