Harrods owner to launch luxury hotel brand

Hotel News - 05/07/2012

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The Qatar-based owner of Harrods is working to launch a new luxury hotel chain.

Reports said this week that Qatar Holding, which is a division of the emirate’s sovereign wealth funds, is planning to launch a range of upmarket Harrods brand hotel properties in a number of cities worldwide.

One property will be situated in London’s Chelsea Barracks area whilst other are planned in Kuala Lumpur, New York as well as in select Chinese destinations.

Doha-based Qatar Holding acquired Harrods in 2010 for some £1.5 billion and has quickly become one of the largest investors in UK property development. Recent projects include the One Hyde Park high-end apartment facility and the US embassy in the Olympic Village and Grosvenor Square.

Qatar Holding’s vice chairman Hussain Ali Al Abdulla is expected to announce an official strategy for the group’s first Harrods hotel property in Malaysia this week. He reportedly said to media earlier in the week that Kuala Lumpur, London and Sardinia were among the first destinations to receive a Harrods hotel.

The news comes as the Chelsea Barracks site still remains undeveloped some five years after Qatari Diar bought the property from the Ministry of Defence in 2007 for some £1 billion.

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