Al Rayyan Tourism & Investment, the international hospitality subsidiary of one of Qatar’s largest private diversified industry groups, has announced its acquisition of the five-star Boscolo Aleph Hotel in Rome, Italy.
The deal brings the company’s global portfolio to 24 premium properties across Europe, the Middle East, Africa and North America.
Tarek M. El Sayed, executive board member at ARTIC, said: “ARTIC’s acquisition of the Boscolo Aleph Hotel underlines our investment focus on properties in the key cities of the world that meet our exacting standards for asset quality, location and architectural design.
“This acquisition marks another important step in ARTIC’s international expansion, progressing from MENA, to Europe, and the United States.
“We look forward to the further enhancement of our portfolio as we pursue our ambition to build one of the world’s leading hotel investment groups.”
Established in 2003, Al Rayyan Tourism and Investment Company is a wholly owned subsidiary of Al Faisal Holding, based in Qatar.
ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas.
In line with Al Faisal Holding’s strategy for the growth of its domestic and international hospitality business, ARTIC’s current portfolio comprises more than 24 hotels and projects in the Middle East and Africa, Europe, and North America.
In addition to its hotel portfolio in prime cities around the world, ARTIC owns hospitality-related services providing cost-effective support services in a shared service model, including laundry, catering and procurement services.