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Qatar Airways bought the Sheraton Skyline Hotel at London Heathrow’s airport in a first foray into lodgings outside the Gulf, and said it’s planning to add further properties in the U.K. and North America.
The deal follows a string of Qatari investments in the U.K. that includes a 20 percent stake in Heathrow held by the state’s sovereign wealth fund and Qatar Air’s purchase of 9.99 percent of IAG SA, owner of British Airways, the hub’s top carrier.
The four-star hotel, which features the tropical Sky Garden and pool, will continue to be managed by Starwood under the Sheraton brand, according to a statement from Qatar Air. The purchase advances the carrier’s plan to expand in property beyond the five-star Oryx Rotana Hotel in Doha, which it owns, and the Hamad International Airport Hotel, which it manages.
A Qatari-led group succeeded in buying London’s Canary Wharf development on Jan. 30, expanding a collection of assets that includes stakes in the Shard skyscraper, Olympic Village, Harrods department store and HSBC Holdings Plc headquarters.
Qatar Airways has six daily flights to Heathrow.
This article was written by Deena Kamel Yousef from Bloomberg and was legally licensed through the NewsCred publisher network.