The St Regis Washington DC is the latest landmark hotel to be acquired by a cash-rich overseas investment firm.
Qatar firm Al Rayyan Tourism Investment Company (ARTIC) has acquired the 182-room property two blocks north of the White House, which will continue to be operated as a St Regis hotel.
"I am particularly pleased with this acquisition; St Regis Washington DC fits perfectly with our expansion strategy and investment criteria; it has an extraordinary location, superb asset quality and beautiful architecture," said ARTIC chairman HE Sheikh Faisal bin Qassim al-Thani.
"We are taking significant strides towards achieving the objective of building a portfolio of iconic hotels in all of the major cities around the World. This is our fourth landmark hotel property in the US, where we are present in Chicago, Miami, New York and now Washington DC."
The value of the acquisition has not been disclosed and it now expands ARTIC’s portfolio to 24 hotels in North America, Europe and the Middle East.
