Qatar is in the process of finalising a deal with Starwood Capital to buy from the US group a portfolio of four luxury hotels in France for an undisclosed price. It is the latest in a wave of high-profile purchases in the country by the gas-rich emirate, which has led to a political backlash.
The Qatari acquirer of the hotels, which include the art deco Martinez on Cannes’ Croisette waterfront, is understood to be Katara Hospitality, a state-owned hotels group.
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