Qatar's Wealth Fund Is Said to Weigh Selling European Hotels - Bloomberg

Qatar's Wealth Fund Is Said to Weigh Selling European Hotels - Bloomberg:

"Qatar’s sovereign wealth fund is weighing the sale of three European hotels operated by InterContinental, according to people with knowledge of the matter. Qatar Investment Authority has yet to appoint brokers for a possible sale of the properties in Cannes, Amsterdam and Frankfurt, the people said, asking not to be identified because the talks are private. A final decision about a sale has yet to be made, they said. QIA, which has about $320 billion of assets, bought the hotels in 2014 as part of a wider push into luxury hotels. The Gulf state has been drawing on its wealth fund over the last 11 months to help stave off the negative impact of a diplomatic and economic boycott led by its larger neighbors Saudi Arabia and the United Arab Emirates. Representatives for QIA did not comment."



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