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QNHC buys Park Hyatt in Spain
Web posted at: 3/12/2008 2:33:11
Source ::: The Peninsula
doha • In its second acquisition outside the country, Qatar National Hotels Company (QNHC) has purchased the 170-room Park Hyatt Casares Golf & Spa Resort in Andalusia (Spain). The property was acquired from Grupo Evemarina for QR391m. QNH had purchased the Renaissance Golden View Beach Resort in 2006 in Sharm El Sheikh, Egypt.
The newest acquisition is in an advanced stage of construction with the opening expected to take place in the third quarter of next year. The five-star hotel will be the only property managed by Hyatt Corporation on the entire Costa del Sol.
The complex is situated on a hilltop overlooking the Mediterranean and mountains. Sheikh Nawaf bin Jassim bin Jabor Al Thani, QNH Chairman, said: “QNH will be able to broaden its international portfolio. With the Hyatt de Casares as our European base, QNH will be better placed to increase its commitment now of international expansion for the coming years."
The area of the hotel build area is 42,929. sq.m and sits on a platform 75 metres above sea level. The hotel comprises a four-storey main building. There are a total of 101 villas.
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