Al Faisal subsidiary buys Grand Hyatt Berlin

(Berlin, Germany – 13 Februar 2013) Al Rayyan Tourism and Investment bought the 342-room Grand Hyatt Berlin from the German real estate fund SEB ImmoInvest. Al Rayyan Tourism and Investment, a subsidiary of Al Faisal Holding, Doha, Qatar, also bought the 505-room Maritim Hotel Berlin from the SEB fund in late December. SEB Asset Management signed both deals for SEB ImmoInvest.

Grand Hyatt Berlin

Grand Hyatt Berlin

Al Rayyan Tourism and Investment did not disclose the purchase amount of either deal, nor if there are renovation or rebranding plans for the properties.

“We are delighted with the acquisition of the Grand Hyatt hotel and the Maritim Hotel in Berlin. These hotels, with their unique architectural qualities and prime city center locations, reflect our clear investment focus on high quality assets and bring us a step closer to our target. We will continue to build our portfolio locally and internationally and I look forward to further expansion all around the world over the coming years,” said Sheikh Faisal bin Qassim Al Thani, chairman of Al Faisal Holding.

Grand Hyatt Berlin is part of the 19-property Quartier Potsdamer Platz complex. The Maritim Hotel Berlin is located in the Diplomatic Quarter in Berlin’s Tiergarten district.

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