Al Rayyan Tourism Investment Company, the international hotel investment and hospitality subsidiary of Al Faisal Holding Company, has acquired the St Regis Washington, DC.
The property is the United States capital’s premier luxury hotel.
Located two blocks north of the White House at the intersection of 16th and K Streets, the 182-room property is considered the best hotel address in the city.
The hotel couples classic elegance with modern amenities, offering luxury rooms and suites, complete with flawless furnishings, state-of-the-art technology and gracious residential touches.
The property, which also comprises an adjacent 22,000 sq.ft. parcel with significant development potential, will continue to fly the flag of St. Regis reflecting ARTICs success in partnering with world-class hotel operators.
Sheikh Faisal Bin Qassim Al Thani, chairman of ARTIC, commented on the acquisition: “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.
“ARTIC is taking significant strides towards achieving its 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.
“This latest acquisition further underlines our success in creating one of the leading international hospitality investment companies as we build on our strong Qatari base and I look forward to continuing to enhance the ARTIC portfolio in line with the Company’s medium-term plans for a flotation on one of the international stock exchanges.”