Qataris buy majority stake in Maybourne Hotel Group

24 April 2015 by
Qataris buy majority stake in Maybourne Hotel Group

Qatari investors have bought the Barclay brothers' stake in the Maybourne Hotel group, giving them control of Claridge's, the Berkeley and the Connaught.

The deal marks the end of a four-year legal battle over three of London's most prestigious hotels.

The deal ends a legal battle between the Barclay owners of The Daily Telegraph and Northern Irish property investor Paddy McKillen, who owns a 36.2% share. McKillen had tried to prevent the Barclay brothers from taking over the stake owned by Quinlan, as this would have given them control of the company.

All litigation has now ended. McKillen is now said to be planning expansion and refurbishment programmes backed by the Qataris.

Constellation Hotels is also a major investor in other European hotels, including the Intercontinental London Park Lane in 2013 and Le Grand Hotel in Paris.

Barclay brothers battle for the Maybourne Hotel Group returns to court >>

Barclay brothers score High Court victory over battle for Maybourne Hotel Group >>

TagsFinance and Hotels
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