Katara Hospitality takes 50% stake in the Savoy Hotel

Katara Hospitality has taken a 50% stake in the Savoy hotel for an undisclosed price.

The Qatari government controlled fund follows a refinancing of the hotel's debt by a syndicate led by Deutsche Bank, which inherited an investment after a takeover of the Bank of Scotland in 2008.

According to The Times it has some the stake to Katara in tandem with Fairmont Raffles Hotels International, which operates the Savoy under a long-term management contract.

Fairmont Raffles also has Qatari connections, being half owned by Saudi billionaire Prince Alwaleed bin Talal who has ties with the ruling al-Thani family of Qatar.

Katara has investments in hotels including Raffles in Singapore, the Carlton in Cannes, the Amstel in Amsterdam and Le Royal Monceau in Paris.