(MENAFN) Qatar's Al Rayyan Tourism and Investment, also known as ARTIC, announced its acquisition of the five-star Boscolo Aleph Hotel in Rome, Italy, thus expanding the company's portfolio to 24 properties across Europe, the Middle East, Africa and North America, Arabian Business reported.
The company, the international hospitality subsidiary of Al Faisal Holding Company, said the deal is part of its expansion strategy of focusing on high quality assets in prime city centers and resort locations.
The hotel, which is located just 100 meters from Via Veneto, is 6.500 square meter in space and comprises of 96 rooms and suites over six floors, a roof garden, spa and a range of hospitality and dining facilities.
"With its exquisite architectural design, historical value and prime location, the Aleph hotel is a perfect fit with our long term investment strategy and is a valuable addition to our portfolio which also expands our European footprint to Rome, one of Europe's and the world's leading luxury tourist destinations," Chairman of ARTIC said.
The acquisition of the hotel in Rome follows another acquisition made by the company earlier this month, when it acquired 97 percent of The Manhattan at Times Square Hotel in New York, a 22-storey property in mid-town Manhattan featuring 689 rooms and suites, commercial space, and within easy reach of New York landmarks.
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